Egypt's main index slipped on Tuesday on foreign selling amid low volumes, traders said. Volume totalled LE274 million ($46 million), they added. Locals made net purchases worth LE14.5 million, while Arab and non-Arab investors made net sell-offs worth LE2.2 million and LE12.35 million respectively, according to Bourse data. The country's benchmark index EGX 30 slipped by 0.14 per cent to 4,989.08 points. The broader indexes EGX 70 and EGX 100 were in the black, gaining 0.45 and 0.59 per cent to 584.89 and 914.62 points respectively. In a bid to attract liquidity to local stocks, the Bourse is preparing promotional tours in European and US markets, Mohamed Abdel Salam, the Chairman of the Egyptian Exchange, told a press briefing on Tuesday. The Bourse will hold an 'Egypt Day' at the New York Stock Exchange on May 23 and another at the London Stock Exchange on May 25, Abdel Salam said. "The Bourse will announce the prospectus of Misr Al-Mustaqbal fund tomorrow, and subscription will start after 15 days," Abdel Salam said. Orascom Construction Industries slipped by 0.27 per cent to LE238.05 per share. Orascom Telecom, the largest Arab mobile operator by subscribers, rose by 1.7 per cent LE4.19 per share. Talaat Moustafa, the country's biggest listed builder, fell by 6.44 per cent to LE3.63 per share. Shareholders in Telecom Egypt approved an LE1.3 cash dividend. The firm's 2010 net profit soared by eight per cent to LE3.3 billion. Shares in the landline monopoly rose 3.05 per cent to LE16.58.
