Masress : Egypt stocks end week down on profit-taking

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Egypt stocks end week down on profit-taking
Profit-taking brings run of four straight positive sessions to an end

Ahram Online Published in Ahram Online on 21 - 11 - 2013

Egyptian indices finished down on Thursday, primarily on profit-taking by foreign and Arab investors after four positive sessions.
The benchmark EGX30 dipped 0.6 percent to 6,457 as Arab and foreign investors were net sellers by some LE6.8 million and LE20 million respectively.
The selling trend tugged down market bellwethers Commercial International Bank (CIB) and Global Telecom (GT) by 0.7 and 1 percent respectively.
Property shares Talaat Mustafa Group (TMG), Palm Hills Development (PHD) and Six of October Development and Investment (SODIC) all dropped as well by 0.7 percent each.
The broader EGX70 index shed 0.2 percent in a session that saw total daily turnover of LE581 million.
Despite the falls, domestic investors were net buyers by some LE26.8 million.
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