On Wednesday, February 21, the market retreated amid profit taking and lower volumes. The top gainer was Orascom for Projects & Touristic Development (OPTD.CA), which jumped nearly limit up to LE8.94 following Orascom Hotel Holdings –OHH (ORHC.CA)’s recent press conference outlining the details of the merger between OPTD and OHH.
OHH, on the other hand, dropped 2.36 percent to LE7.02. Elsewhere, telecoms led the market down with MobiNiL (EMOB.CA) shedding 2.63 percent to LE69.28 while Orascom Telecom –OT (ORTE.CA) fell 2.73 percent to LE39.90.
Cement shares took a tumble, led by Alexandria Cement (ALEX.CA), which plunged 3.35 percent to LE18.17. Torah Cement (TORA.CA) dropped 2.68 percent to LE31.99 while Helwan Cement (HELW.CA) declined 1.23 percent to LE36.03.
Overall, the PAMI lost 1.53 percent to 7,332 while the PIPO was off 0.84 percent to 1,724.4.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
