Cairo – Mubasher: EGX indices collectively ended Thursday’s trading session on a negative note for the second straight session after the disappearance of EgyptAir’s Paris-Cairo flight MS804 in the Mediterranean Sea.
The benchmark EGX30 declined 1.8% session-over-session to 7,499.49 points from 7,637.04 points.
“Porto Group and Juhayna were the benchmark index’s top-performing stocks, after rising 3.8%, 3.3% and 1.8%, respectively. Elsewedy Electric, Egyptian Resorts and Ezz Steel were the worst performing constituents after shedding 4.0%, 3.4% and 2.9%, respectively”, said Pharos research firm.
With a turnover of EGP 111 million, CIB was the leader of trading values, ending the session 2.5% higher at EGP 43.65.
Foreign investors were net sellers by EGP 35.3 million, while nationals and Arab investors were net buyers by EGP 19.8 million and EGP 15.5 million respectively.
The equal-weighted index EGX50 was 1.5% lower to 1,380.76 points against 1,401.77 points.
The small and mid-cap EGX70 fell 0.31% to 366.13 points. The broader index slipped 0.64% to 771.85 points.
The top advancers were Torah Cement (+6.49%), Mohandes Insurance (+3.93%), and Orange Egypt For Telecommunications (+3.26%).
Meanwhile, Misr Conditioning, Egyptian Arabian Securities Brokerage, and International Co. for Investment & Development were the top losers with a slide of 5.6%, 5.15%, and 4.88% respectively.
Earlier, EgyptAir said a plane from Paris to Cairo with 66 people on board disappeared after entering the Egyptian airspace early Thursday.
The Egyptian Minister of Civil Aviation, Sherif Fathy, said no theory can be ruled out regarding the disappearance of EgyptAir’s aeroplane, yet the possibility of a terror attack is more likely than a technical fault.
