CASE ends week with bearish sentiment

Published April 2nd, 2001 - 02:00 GMT

On Thursday, March 29, investor sentiment remained bearish, as stocks moved lower in weak trading. Lakah Group (HCFI.CA) saw the highest volumes during the session, but plunged 4.96 percent to LE1.34. The telecom sector continued its decline, as MobiNiL (EMOB.CA) edged 2.54 percent lower to LE55.34 while Orascom Telecom –OT (ORTE.CA) crashed 4.69 percent to LE25.60. 

 

Cement stocks, however, ended mixed. Helwan Cement (HELW.CA) inched up 0.43 percent to LE42.35 and Amereya Cement (AMRI.CA) eked out a minor 0.44 percent gain to close at LE25.27. Suez Cement (SUCE.CA) closed 1.42 percent lower at LE34.11. 

 

Bank stocks were also mixed, as Misr International Bank –MIBank (MIBA.CA) rose 0.29 percent to LE34.99 while Commercial International Bank –CIB (COMI.CA) was off 1.44 percent to LE33.50. 

 

In contrast, pharmaceuticals enjoyed some support, with T3A Pharma Group (TAGP.CA) finishing as the top gainer, up 4.97 percent to LE11.62.and Cairo Pharma-ceuticals (CPCI.CA) ended 1.42 percent higher at LE26.50.  

 

Overall, the PAMI fell 2.55 percent to 6,120.1 while the PIPO was down 0.65 percent to 1,626.6.  

 

Prime Securities S.A.E.  

© 2001 Mena Report (www.menareport.com)

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