On Sunday, March 25, the market recovered slightly in relatively quiet trading. Investors focused on blue-chip shares, which generally moved higher across the board. Telecoms contributed to the market‘s rise, as market bellwether MobiNiL (EMOB.CA) climbed 2 percent to LE61.57 and Orascom Telecom –OT (ORTE.CA) rebounded 2.19 percent to end the session at LE28.87. Major bank stocks put in a positive performance, such as Commercial International Bank –CIB (COMI. CA), which closed 0.12 percent higher at LE34.03 and Misr International Bank –MI-Bank (MIBA.CA), which jumped 2.76 percent to LE35.00.
In contrast, Egyptian American Bank –EAB (EABK.CA) shed 2.06 percent to close at LE33.30. Cement shares ended mixed, as Suez Cement (SUCE.CA) was down 0.28 percent to LE35.28 while Helwan Cement (HELW.CA) inched 0.74 percent higher to close at LE42.26.
Overall, the PAMI rose 1.47 percent to 6,473.8 while the PIPO moved 0.29 percent higher to 1,640.7.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)