On Sunday, January 7, telecom companies dragged the CASE lower. The Telecom sector was severely affected with both GSM giants trading limit down most of the session. Orascom Telecom –OT
(ORTE.CA) lost 4.75 percent to LE45.73 and MobiNiL (EMOB.CA) retreated LE3.30 or 4.62 percent to LE68.14.
Housing and Contracting sectors gained more ground, continuing last week’s trend. Al Shams H&D (ELSH.CA) rose 4.78 percent and Cairo H&D (ELKA.CA) advanced 4.67 percent to LE1.57. The Cement sector also gained some ground following unconfirmed news about Suez Cement being interested in Helwan Cement. Suez Cement (SUCE.CA) inched up 1.91 percent to LE34.62, while Sinai Cement (SCEM.CA) gained four percent to LE15.60.
Overall, the PAMI dropped 1.56 percent to 7,656.7 while the PIPO gained 0.52 percent to close at 1,776.1.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
