On Wednesday, March 21, the market gave up its gains from the past two days. Investors continued to focus on blue-chip shares. Telecoms were hammered, as MobiNiL (EMOB.CA) fell
2.66 percent to LE61.52 and Orascom Telecom –OT (ORTE.CA) dropped 4.28 percent to finish at LE29.30.
Cement stocks faced downward pressure. Suez Cement (SUCE.CA) plunged 3.18 percent to LE35.03. Helwan Cement (HELW. CA) edged 1.79 percent lower to close at LE41.73. Conversely, some bank stocks moved against the current. Commercial International Bank –
CIB (COMI.CA) closed 0.47 percent higher at LE34.28. MI-Bank (MIBA.CA) was up
0.38 percent to LE34.20.EAB (EABK.CA) closed flat at LE34.
Overall, the PAMI fell 2.31 percent to 6,488.3 while the PIPO moved 0.82 percent lower to
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)