During Sunday closing session, the Egyptian Exchange (EGX) has extended posting losses which hit EGP 3.7 billion as the capital market has amounted to EGP 394.338 million. The EGX indices closed in dark red. The main index, EGX30 pushed down by 1.49% to end at 5716.79 p. EGX20 dived by 1.52% to close at 6679.42 p. Meanwhile, the mid- and small-cap index, the EGX70 fell by 1.14% to conclude at 527.27 pts. Price index EGX100 inched lower by 1.11% to finish at 873.69 p. Traded volume reached 121.387 million securities worth EGP 314.239 million, exchanged 21.858 thousand transactions. This was after trading in 171 listed securities; 124 declined 27 advanced while 20 keeping their previous levels. EGX's losses were due to Egyptians as well as Arabs' selling pressures. Egyptians and Arabs were net sellers seizing 82.77% and 7.85% respectively, of the total markets, with a net equity of EGP 8.560 million and EGP 4.028 million excluding the deals. On the other hand, the non-Arab Foreigners were net buyers seizing 9.38% of the total markets, with a net equity of EGP 12.588 million excluding the deals. Leading Shares: EGX's leading shares witnessed downwards. EFG-Hermes: EFG-Hermes Holding (HRHO.CA) dived by 2.23% to finish at EGP 11.86. Citadel Capital: Citadel Capital (CCAP.CA)'s stock sank by 1.68% to close at EGP 4.09. Orascom Telecom Media & Technology Holding: Orascom Telecom Media & Technology Holding (OTMT.CA) dipped by 1.67% to end at EGP 0.59. Orascom Construction Industries: Orascom Construction Industries – OCI (OCIC.CA)'s stock fell by 1.19% to end at EGP 265.29. Orascom Telecom Holding: Orascom Telecom Holding (OTH) (ORTE.CA) inched lower by 0.53% to conclude at EGP 3.72. Orascom Telecom Holding and its Russian parent Vimpelcom have agreed to provide one another with technical and commercial services to improve the efficiency of their businesses, Orascom said on Sunday. Orascom said it was changing its name to Global Telecom Holding SAE after Vimpelcom took control of the Egyptian company last year in a deal worth around $6 billion. It further added that Orascom planned to take control of Canada's Globalive Investment Holding Corp. after changes to Canada's foreign ownership laws. The change requires the approval of Canadian investment authorities, expected by early next year.
