The Egyptian stock exchange witnessed a slight decline Tuesday due to a bout of profit-taking among Egyptian investors. The decline was offset, however, by a concurrent wave of purchasing on the part of Arab and foreign investors.
The EGX 30 index fell by 0.72 percent, shedding 50 points to close at 6948, in a day that saw a total of LE1.3 billion worth of transactions. A total of 58 company shares rose in value during the period, while 100 fell in price.
Shares in Orascom Construction Industries, Orascom Telecom Holding, EFG-Hermes, Commercial International Bank and MobiNil all fell by between 1 and 4 percent.
Meanwhile, Egyptian real estate development company Namaa announced plans to build a shopping mall in Cairo in partnership with the UAE’s Al-Futtaim Group. According to company officials, the mall will be built on 45,000 square meters of land and will be completed within two years.
Translated from the Arabic Edition.
