On Monday, January 8, the market closed slightly higher in mixed trading. Chipsy for Food Industries (CFIN.CA) led the market in anticipation of the announcement of the merger with Tasty Foods (see story inside). Accordingly, CFIN’s shares soared limit up to LE12.39. GSM giants Orascom Telecom –OT (ORTE.CA) and MobiNiL (EMOB.CA) both ended higher, rising 3.74 percent and 3.27 percent to LE47.44 and LE70.37, respectively.
Cement stocks bucked the market trend, as Helwan Cement (HELW.CA), National Cement (NCEM.CA) and Suez Cement (SUCE.CA) finished the session lower, dropping 4.82 percent, 4.17 percent and 1.27 percent, respectively, to close at LE 37.54, LE 12.40 and LE 34.18. Overall, the PAMI gained 0.55 percent to 7,699.1 while the PIPO rose 0.16 percent to close at 1,778.9.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
