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EGX 30 Ends 0.03% Up, Orascom Telecom Climbs 1.63% Amid Trading Resumption
Amwal Al Ghad Published in Amwal Al Ghad on 12 - 03 - 2013

The Egyptian Exchange (EGX) has ended Tuesday's session posting humble gains of EGP 50 million paring the midday gains amid the foreign selling pressures. The capital market has reached to EGP 370.167 billion during Tuesday's closing session.
The EGX indices ended Tuesday mixed.
Egypt's benchmark index EGX30 rose by 0.03% to close at 5404.91 p; while EGX20 inched up by 0.19% to end at 6386.26 p.
Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.25% to conclude at 463.86 pts. Price index EGX100 dropped by 0.29% to finish at 777.97 p.
During Tuesday's closing, the trading volume hit 89.856 million securities, higher than Monday's 74.767 million securities, representing an increase of 15.089 thousand securities. For the traded value, it reached EGP 305.109 million, exchanged 19.092 thousand transactions.
This was after trading in 175 listed securities; 90 declined, 42 advanced; while 43 keeping their previous levels.
Local and Arab buying transactions have backed EGX's closing gains as they were net buyers seizing 70.75% and 3.13% respectively, of the total markets, with a net equity of EGP 56.965 million and EGP 793.018 thousand excluding the deals.
Meanwhile, the non-Arab foreigners were net sellers seizing 26.12% of the total markets, with a net equity of EGP 57.758 million excluding the deals.
For the leading EGX-listed firms' stocks, Orascom Telecom Holding (OTH) (ORTE) climbed by 1.63% to close at EGP 4.37.
In reply to the inquiries of the EGX, Orascom Telecom Holding sent a release confirming that it is not involved in the ongoing talks between Russia's VimpelCom Ltd. (VIP) and the Algerian government as regards a takeover bid or a possible agreement. Orascom further said it will inform the EGX of any relevant substantial events duly. OTH has noted that VimpelCom denied having any material events to disclose.
Accordingly, the EGX management decided to resume trading on OTH stock as of 1:40 p.m. (11:40 GMT) today.
On the other hand, Orascom Construction Industries – OCI (OCIC.CA)'s stock fell by 0.36% to EGP 246.19.
EFG-Hermes' stock inched down by 0.18% to close at EGP 11.15.
Orascom Telecom Media And Technology Holding SAE (OTMT.CA)'s stock remained with no change to end at EGP 0.76.

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