On Monday, December 11, the market dipped slightly, with many lower profile stocks again realizing the highest price gains. The extremely low volumes of large-cap stocks indicates that investors remain side-lined given the lack of a concrete catalyst spurring market activity.
However, a few higher profile stocks traded among the top 10 gainers, which suggests that investors may be testing the waters again in anticipation of positive concrete developments. Chipsy for Food Industries (CFIN.CA) jumped 4.86 percent to LE3.85 on news released by the Cairo & Alexandria Stock Exchange that the company is involved in Merger and Acquisition activity.
Another Food &Beverage stock, Al Ahram Beverages Company (PYBR.CA) closed nearly limit up at LE54.33. Misr Hotels –Hilton (MHOT.CA) also posted a solid 3.58 percent gain to finish at LE90.25.
Losers again included lower profile shares such as Nile Matches & Prefabricated Houses (NMPH.CA) which dropped limit down to LE8.55 following release of poor FY2000 results. The PAMI closed 1.11 percent lower at 8,069.8 while the PIPO fell 0.37 percent to 1,701.1. ¯ Prime Securities S.A.E.
