Cairo’s bourse begins week with low trading volumes

Published April 24th, 2001 - 02:00 GMT

On Sunday, April 21, the market remained firm although on depressed volumes of around 2.9 million shares, reflecting investors’ hesitation to venture into the market before confirmation of an upward trend.  

 

The telecom sector remained stable as market bellwether MobiNiL (EMOB. CA) inched up 0.84 percent to LE62.30, while Orascom Telecom –OT (ORTE.CA) closed up 0.98 percent at LE28.75. The cement sector ended mixed as Suez Cement (SUCE.CA) lost around 1 percent, while Helwan Cement (HELW.CA) gained 1.8 percent to close at LE41.33. 

 

It was a good day for bank stocks, as Egyptian American Bank – EAB (EABK.CA), Credit International D’Egypte (CIEB. CA) and Commercial International Bank –CIB (COMI.CA) rose 4.93 percent, 4.98 percent and 1.50 percent, respectively.  

 

Overall, the PAMI inched up 0.91 percent to 6,472.8 while the PIPO remained stable at 1,594.5. 

 

Prime Securities S.A.E.  

© 2001 Mena Report (www.menareport.com)

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