Shell invests in Mina West gas development in Egyptian Mediterranean Sea    Egypt's FM highlights 'soft power' in Mali meeting with alumni    Egypt's foreign minister opens business forum in Niger, targets new partnerships    Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties    Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    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    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egyptian stocks mixed; Arabs weigh
Reuters Published in The Egyptian Gazette on 19 - 07 - 2011

CAIRO - Egyptian stocks ended mixed on Tuesday, while Arab buying weighed, traders said. The country's benchmark index EGX 30 fell by 0.6 per cent to 5,144.27 points, they added.
But the broader indexes EGX 70 and EGX 100 were in the black, gaining 1.48 and 1.96 per cent to 632.74 and 957.48 points respectively.
Locals and Arabs made net purchases worth LE9.2 million ($1.5 million) and LE20.6 million respectively, according to Bourse data. Non-Arab investors made net sell-offs worth LE29.8 million.
Volume totalled LE552.7 million, according to Bourse data.
Egypt's heavyweight Commercial International Bank (CIB) slipped by 0.41 per cent to LE27.02 per share. EFG-Hermes, the country's biggest investment bank by market value, shed 2.75 per cent to LE19.8 per share.
Investment bank Pioneers Holding added 0.62 per cent to LE4.87 per share.
Orascom Construction Industries was nearly flat at LE266.52 per share. Orascom Telecom, the largest Arab mobile operator by subscribers, shed 0.5 per cent LE3.95 per share. Mobinil fell by 0.6 per cent to LE110.74 per share.
Meanwhile, world stocks clawed back some recent losses and the euro steadied as investors paused from selling riskier assets in the face of the euro zone debt crisis and worries about Washington's debt ceiling fight, according to Reuters.
Gold, however, continued to attract safe-haven investment flows, rising for the sixth session in a row to around $1,607 an ounce.
Italian and Spanish bonds, now in the maelstrom as euro zone debt problems spread, firmed slightly after 10-year yields vaulted six per cent.
Investors were focusing on a euro zone summit to be held on Thursday, hoping it will complete a second bailout for Greece in an attempt to stop the sovereign debt crisis from seriously infecting larger countries, notably Italy and Spain.
World stocks as measured by MSCI were up 0.4 per cent and still have gains of around 1.25 per cent for the year despite a plethora of financial, political and natural crises from Japan to Europe, the United States and North Africa.

Clic here to read the story from its source.