29 December 2012

Egypt: Limited Losses At EGX Over Past Week

The Egyptian Exchange (EGX) has slightly slipped this week on profit-taking after a successful referendum on the new constitution.

Limited losses were also triggered by selling operations by investment funds to settle their financial position, as well as fears after Standard and Poor's downgraded Egypt's long-term credit rating from B to B- because of growing tensions over its political crisis.

Market capital lost about EGP 720 million to reach 373.2 billion pounds compared to 373.9 billion the week before.

The benchmark EGX 30 index went down by 0.47 percent to 5,418 points.

The broader EGX 70 index of the leading small and medium sized enterprises (SME) drew back by 1.71 percent to 479 points.

The overall EGX 100 index followed suit with 1.12 percent, taking the index down to 801 points.

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.