CAIRO - Egyptian indexes rose slightly on Thursday, ending a three-day losing streak, traders said. The country's benchmark index EGX 30 gained 0.1 per cent to 5,479.6 points, they added. The broader indexes EGX 70 and EGX 100 were also in the black, rising by 0.15 and 0.19 per cent to 643.38 and 994.87 points respectively. Locals and Arabs made net purchses worth LE22.9 million ($3.8 million) and LE24.8 million. Non-Arabs made net sell-offs worth LE47.7 million, according to Bourse data. Volume exceeded LE1.7 billion, according to Bourse data. Egypt's heavyweight Commercial International Bank (CIB) shed 0.53 per cent to LE30.02 per share. EFG-Hermes, the country's biggest investment bank by market value, slipped by 1.55 per cent to LE20.99 per share. Orascom Construction Industries (OCI) rose by 0.51 per cent to LE274.07 per share. Talaat Moustafa, the country's biggest listed builder, gained 1.61 per cent to LE5.06 per share. Orascom Telecom, the largest Arab mobile operator by subscribers, shed 0.24 per cent LE4.15 per share. Telecom Egypt, the country's landline monopoly, added 0.26 per cent to LE15.23. Heliopolis Housing, an Egyptian real-estate developer, sold land plots for LE36 million at an auction, the company said in a statement, carried by Bloomberg. The company disposed of three plots totalling 3,274 square metres, Heliopolis said. The last land sale by Heliopolis on May 30 netted the company LE14.9 million for 10,459 square metres. Globally, investors pulled in their horns in reaction to a relatively downbeat outlook from the US Federal Reserve, sending world stocks and oil prices lower and boosting the dollar in a search for safety, according to Reuters. The Fed said on Wednesday that while longer-term the U.S. economy should pick up, it was taking longer than predicted. "The economic recovery is continuing at a moderate pace, though somewhat more slowly than (we) had expected," it said. World stocks as measured by MSCI were down 0.9 per cent, leaving the index flat for the year to date. The FTSEurofirst 300 lost 0.9 per cent and Japan's Nikkei closed down a third of a per cent.
