CAIRO – While many Arab and foreign sold much, there was a similar spate of purchasing by investors. The three Egyptian benchmark indices (EGX30, EGX70 and EGX100) fluctuated on Thursday, according to the Egyptian Exchange (EGX). EGX30 fell 0.03 per cent or 1.41 points to 5,300.06 points, while EXG70, which measures 70 of the country's small and mid caps, rose 0.2 per cent or 1.24 points to 606.61 points. The broader EGX100 advanced 0.25 per cent or 2.4 to 947.83 points. EFG-Hermes shed 0.95 per cent to LE20.79, while Commercial International Bank (CIB) fell 0.67 per cent to LE29.67 per share. Orascom Construction Industries advanced 0.28 per cent to LE243.97 per share and Holding Orascom Telecom rose 0.91 per cent, closing at LE4.44 per share. Foreign net selling was estimated at LE34.8 million, while local net selling hit LE46.2 million. Arab net selling reached LE11.3 million. Meanwhile, European stocks retreated on Thursday as lingering worries about the euro zone debt crisis hurt banks in the peripheral countries. At 1144 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.5 per cent at 1,129.16 points, after rising 0.7 per cent in the previous session. Financials were among the top losers, with the STOXX Europe 600 banking index .SX7P falling 1.4 per cent, as markets speculated over whether Greece will be forced to restructure its massive public debt. The cost of insuring Greek Government debt against default hit a new record high.
