CAIRO: Egypt s main index broke below 6,300 points, ending 3.5 percent lower for its biggest one-day drop in more than five weeks, as investors sold cheaply across the board. Traders said the sharp decline follows failing sentiment on global markets. Some of the largest falls were in the leading companies, and particularly those with exposure to foreign markets via London listings. Orascom Construction shed 5.5 percent, Orascom Telecom fell 5 percent, Commercial International Bank dipped 3.7 percent and EFG-Hermes lost 5.5 percent. Analysts said last Thursday s financials from Sewedy Cables pressured their shares, one of the day s largest decliners, down 8.3 percent. The firm had posted a 30 percent drop in first half net profit. The index dipped sharply in early trade and declined through the session to end 226 points lower at 6,289 points. Mobinil was the best performing stock in the EGX 30, down 2.7 percent. The broader EGX 70 also fell 3.6 percent with three out of 70 constituents keeping out of the red. -Reuters
