CASE begins week with continuous declines

Published March 20th, 2001 - 02:00 GMT

On Sunday, March 18, the market declined in reaction to Friday’s NASDAQ plunge. Helwan Cement (HELW.CA) bucked the trend to close 2.17 percent higher at LE41.85 on news that The Holding Company for Metallurgical Industries officially announced its intention to sell of its remaining stake in the company. Amereya Cement (AMRI.CA) also performed well, jumping 4.87 percent to LE33.15. Suez Cement (SUCE.CA) was off 0.85 percent to LE34.85.  

 

Other blue-chip shares were hit hard with MobiNiL (EMOB.CA) dropping 4.47 percent to LE59.59 and Commercial International Bank – CIB (COMI.CA) declining 3.04 percent to LE33.50. Following suit was Orascom Telecom –OT (ORTE.CA), which continued its trend to a new low of LE28.47.  

 

Overall, the PAMI fell 2.77 percent to 6,391.5 while the PIPO was down 1.01 percent to 1,642.7.  

 

Prime Securities S.A.E.  

© 2001 Mena Report (www.menareport.com)

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