Egypt's indices were down on Thursday as purchases from foreign investors failed to prop up the market against profit-taking by domestic sellers. The main EGX30 index fell 0.94 percent to close the session at 7,950 points while the broader EGX70 dropped 0.59 percent as daily turnover reached LE869 million. The market had risen by over 2 percent over the previous two days, after a speech by popular military chief Field Marshall Abdel Fattah El-Sisi, in which he hinted he intended to run for president. Egyptian investors were the only net-sellers, to the tune of LE30.6 million, driving the majority of EGX30 shares down. Global Telecom Holding, which posted a fourth quarter net-loss of $749 million on Thursday, saw its share price tumble 2.52 percent to close at LE4.65 a share. Orascom Telecom Media and Technology Holding also fell, by 1.42 percent to trade at LE1.39 a share, and Telecom Egypt slid 0.99 percent to LE14.93 a share. In the real estate sector, TMG Holding, which on Wednesday reported a 7.2 percent rise in net profit year-on-year in 2013, saw its share price fall on thursday 1.72 percent to LE7.99 a share. Six of October for Development and Investment Company (SODIC) dropped 0.61 percent to LE24.42 a share, and Palm Hills Development Company fell 0.87 percent to LE3.43. Investment bank EFG-Hermes dipped 1.68 percent to LE12.27 a share. Commercial International Bank (CIB), the largest stock in the index, rose 1.16 percent to trade at LE36.80. The bank announced on Wednesday the distribution of a cash dividend of LE1 per share on 20 March. http://english.ahram.org.eg/News/96042.aspx
