During Monday opening session, the Egyptian Exchange (EGX) has posted early losses of 3.8 billion as the capital market has amounted to EGP 345.344 billion, according to data compiled by Amwal Al Ghad at 11:06 a.m. (09:06 GMT). Gunmen killed at least 15 Egyptian policemen in an assault on a police station at the border between Egypt and Israel on Sunday, before seizing two military vehicles and attempting to storm the border. Israel said its aircraft had fired on one of the commandeered vehicles and that the other had exploded at the border crossing. Israeli forces were combing the area and some of the militants had been killed, the Israeli army said. Egyptian medical and security sources said that at least 15 Egyptian policemen had been killed and seven wounded in the assault on the police station. Israel said no Israelis were hurt. "The terrorists who killed the Egyptian security men seized two Egyptian military vehicles and tried to storm the Israeli border," Ofir Gendelman, a spokesman for Israeli Prime Minister Benjamin Netanyahu, said on Twitter. "One of the two Egyptian army vehicles exploded and the second was targeted by the Israeli air force in the Kerem Shalom crossing. No injuries on the Israeli side," he said. There was no immediate claim of responsibility. Egyptian state television reported that an Islamist militant group was behind the attack. The main index, EGX30 dived 1.47% to hit 4960.54 p. EGX20 sank 1.50% to reach 5678.03 p. Meanwhile, the mid- and small-cap index, the EGX70 fell 2.23% to hit 443.04 p. Price index EGX100 dropped 1.75% to reach 763.92 p. Traded volume reached 57.902 million securities worth EGP 16.753 million, exchanged through 3.436 transactions. This was after trading in 117 listed securities; 98 declined 13 advanced while 6 keeping their previous levels. Egyptians and non-Arab Foreigners were net sellers seizing 78.09% and 5.39% respectively, of the total markets, with a net equity of EGP 4.592 million thousand and EGP 1.857 million excluding the deals. On the other hand, Arabs were net buyers seizing 16.52% of the total markets, with a net equity of EGP 6.449 million excluding the deals. Leading Shares: EGX's leading shares witnessed collective downwards except for the shares of Talaat Moustafa Group (TMGH.CA) which went up by 1.19% to reach EGP 4.26. Orascom Telecom Media & Technology: The shares of Orascom Telecom Media & Technology Holding (OTMT.CA) led EGX early downwards as they tumbled by 8.77% to hit EGP 0.52. EFG-Hermes Holding: The shares of EFG-Hermes Holding (HRHO.CA) inched lower 1.20% to reach EGP 10.70. EFG-Hermes shareholders meeting is excepted to be reconvened within this week upon the Egyptian Financial Supervisory Authority (EFSA)'s request so as to conclude its deal with QInvest. Mona Zulficar, EFG-Hermes Board of Directors chairperson, had announced last Tuesday that upon EFSA's request, EFG-Hermes will be reconvening its shareholders' annual meeting within a week or a maximum of 10 days. “During this meeting, we will provide some additional more detailed disclosures on the QInvest deal and the fate of the minority's rights after signing the deal ... we don't have something to hide behind the scenes."Zulficar added Commercial International Bank: The shares of Commercial International Bank- Egypt (CIB) (COMI.CA) went down by 0.92% to hit EGP 28.05. Citadel Capital: Shares of Citadel Capital (CCAP.CA) edged down 0.65% to reach EGP 3.07. Orascom Telecom Holding: The shares of Orascom Telecom Holding (OTH) (ORTE.CA) dropped by 0.59% to hit EGP 3.39. Orascom Construction Industries: Orascom Construction Industries (OCIC.CA) fell by 0.42% to reach EGP 273.97. Sinai Attacks Repercussions: Gaza Strip's Hamas condemned the killing of the Egyptian police officers. Egyptian security sources said the attackers had used a stolen police vehicle to launch the attack and had fired live ammunition at police officers at the station. Egyptian President Mohammed Morsi called for an urgent meeting with Egypt's military council to discuss the situation, the Muslim Brotherhood's party said on Facebook. Israeli Defense Minister Ehud Barak said the attack showed the need for Egypt to take action to impose security in the Sinai peninsula. A television journalist based in North Sinai said the area was sealed off by security forces, who had blocked the road from the main town of al-Arish in the direction of the Gaza border crossing at Rafah. Earlier on Sunday, an Israeli air strike killed a Palestinian gunman from a radical Islamist group and wounded another as they rode a motorbike in southern Gaza near the Egyptian border. It was not immediately possible to confirm whether the two incidents were linked. Israel has previously accused Palestinian militants in Gaza of involvement in militant activity in Sinai, where insecurity has spread since the U.S.-aligned Egyptian president, Hosni Mubarak, was toppled by a citizen revolt last year.
