Masress : Market Report: Curfew lift isn't enough for stocks to clear the red

ABE chair meets Beheira, Daqahleya governors to advance agricultural development CIB launches training programme, awareness campaigns for Global Fraud Awareness Week Israel accused of ceasefire violations as humanitarian risks escalate in Gaza Maternal, fetal health initiative screens over 3.6 million pregnant women Banque Misr signs EGP 3bn revolving credit facility with SODIC The Future Begins Now: A National Alliance Bridging the Gap Between Classroom Seats and Leadership Dreams Ahl Masr Burn Hospital Concludes First Scientific Forum, Prepares for Expanded Second Edition in 2026 Egypt signs mining training agreement with Australia's Murdoch University Australia returns 17 rare ancient Egyptian artefacts Gold prices edge lower on Thursday Gaza death toll rises as humanitarian crisis deepens, Israeli offensive expands in West Bank Egypt expands rollout of Universal Health Insurance Cairo affirms commitment to Lebanese sovereignty, urges halt to cross-border violations China invites Egypt to join African duty-free export scheme Egypt calls for stronger Africa-Europe partnership at Luanda summit Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows Egypt scraps parliamentary election results in 19 districts over violations Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date Egypt signs host agreement for Barcelona Convention COP24 in December Al-Sisi urges probe into election events, says vote could be cancelled if necessary Filmmakers, experts to discuss teen mental health at Cairo festival panel Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov. Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team Egypt launches National Strategy for Rare Diseases at PHDC'25 Egypt adds trachoma elimination to health success track record: WHO Grand Egyptian Museum welcomes over 12,000 visitors on seventh day 'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo Egypt launches Red Sea Open to boost tourism, international profile Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism Sisi expands national support fund to include diplomats who died on duty Egypt's PM reviews efforts to remove Nile River encroachments Egypt resolves dispute between top African sports bodies ahead of 2027 African Games Germany among EU's priciest labour markets – official data Paris Olympic gold '24 medals hit record value It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game Russia says it's in sync with US, China, Pakistan on Taliban Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights Sudan says countries must cooperate on vaccines Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19 Egypt to tax bloggers, YouTubers Egypt's FM asserts importance of stability in Libya, holding elections as scheduled We mustn't lose touch: Muller after Bayern win in Bundesliga Egypt records 36 new deaths from Covid-19, highest since mid June Egypt sells $3 bln US-dollar dominated eurobonds Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

Market Report: Curfew lift isn't enough for stocks to clear the red
End of nighttime restrictions signal the prospect of great stability for foreign investors but fail to perk up a stagnant trading day

Salma El Wardani Bassem Abo Alabass Published in Ahram Online on 16 - 06 - 2011

Egypt's stock market reversed its northern direction in the last session of the week with the EGX30 index falling 0.37 per cent to record 5,541.64 points.
Despite the decline in Thursdays session there was a slight upward edge in the main index compared to the 0.94 per cent drop of the day before.
Of 184 listed stocks, 83 gained value and 91 declined in LE683.2 million (US$115.7mn) of total equities trades.
Egyptians were the only net-buyers taking on LE89mn in shares, while Arabs and foreigners were net-sellers of LE5.9m and LE83.1m respectively.
"The news of the curfew cancellation has increased investors' trust in the market and that helped the high market activity both small and big shares have seen," says Ashraf Abdul Aziz, head of institutions sales at Arabia Online
"Cancelling the curfew means -- especially for foreigners and Arabs -- the start of the stability necessary for investment."
Individuals were net-buyers of LE 54.7mn as opposed to institutions which were net-sellers.
"The individuals' high activity in today's session also helped boost market turnover,” says Abdul Aziz.
Pioneers Holding was one of the top gainers after a series of losses, its shares jumping 6 per cent.
Real estate was among the gaining sectors with activity in heavyweight shares TMG (up 2.7 per cent) and Palm Hills (ups 3.2 per cent) combining to LE60.4 million in turnover.
"I can't find clear reasons for this unexpected activity, but real estate benchmarks had attractive share prices today -- below LE5, like Palm Hills and Egyptian Resorts -- which have attracted individuals."
Ezz Steel continued moving up, gaining 1.3 per cent and leading the basic resources sector into the green. Orascom Construction Industries (OCI) plunged 1.1 per cent.
All shares of the telecoms sector saw dips, with OT down 0.4 per cent, (Mobinil 0.5 per cent and Telecom Egypt 0.8 per cent.
The broader EGX70 and EGX100 indices also saw modest losses, down 0.09 per cent and 0.2 per cent.

Clic here to read the story from its source.