Egypt's NUCA, SHMFF sign New Cairo land allocation for integrated urban project    CIB named Egypt's Bank of the Year 2025 as factoring portfolio hits EGP 4bn    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Oil prices edge higher on Thursday    Gold prices fall on Thursday    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt to swap capital gains for stamp duty to boost stock market investment    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    Egypt recovers two ancient artefacts from Belgium    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Egyptian stocks fall amid low volumes
Reuters Published in The Egyptian Gazette on 20 - 04 - 2011

CAIRO - Gripped by a bearish sentiment, Egyptian stocks fell on Wednesday amid low volumes, traders said. The country's benchmark index EGX 30 shed 1.86 per cent to 4,986.46 points, they added.
The broader indexes EGX 70 and EGX 100 were also in the red falling by 1.63 and 1.38 per cent to 572.75 and 897.55 points respectively. Volume totalled LE462.8 million ($77.8 million), according to Bourse data.
Egypt's heavyweight Commercial International Bank (CIB) slid 4.4 per cent to LE27.37 per share. EFG-Hermes, the country's biggest investment bank by market value, gained 0.74 per cent to LE18.97 per share.
Orascom Construction Industries slipped by 1.15 per cent to LE241.23 per share. Orascom Telecom, the largest Arab mobile operator by subscribers, shed 1.43 per cent LE4.13 per share.
Mobinil slipped 0.29 per cent to LE137.94 per share. Talaat Moustafa, the country's biggest listed builder, dipped by 1.76 per cent to LE3.9 per share.
Globally, upbeat earnings from companies including chip maker Intel lifted stocks and boosted appetite for riskier assets, driving commodities higher and the Australian dollar to a 29-year high versus the dollar, according to Reuters.
Intel posted higher than expected sales and forecast quarterly revenues well above Wall Street's estimates, while the world's biggest cosmetics group, L'Oreal, and carmaker PSA Peugeot Citroen also came in with robust figures.
Of the 45 S&P 500 .SPX companies that have reported first-quarter earnings so far, 79 percent have either beaten or met market expectations while the remainder came in below forecasts, data from Thomson Reuters StarMine showed.
Japan's Nikkei average rose 1.8 per cent, snapping a three-day losing run, and the pan-European FTSEurofirst 300 rose 1.5 per cent.
World equities measured by Morgan Stanley Capital International (MSCI) All-Country World Index advanced 1.2 per cent, extending the previous session's 0.5 percent rise and further recovering from Monday's 1.6 per cent loss.

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