Egypt index slips in sleepy trade

Reuters
1 Min Read

CAIRO: The main Egyptian index, EGX30, closed down 1.2 percent in low volumes, weighed by global slippage on Friday.

Talaat Moustafa slipped 2.6 percent and Orascom Telecom ended 1.2 percent lower, though in less than one-third its 90-day average volume.

Palm Hills Developments added 2.2 percent, the best of four gainers in the thirty-firm index. Maridive rose 1.9 percent.

Trading activity has been somnolent for weeks and traders expect that trend to continue into Ramadan, with only the chance of second quarter results surprises to aid trade flow.

EFG-Hermes, often seen as a bellwether for the wider financial market, slipped 1.7 percent.

The index ended at 5,975 points.

 

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