Cairo – Mubasher: The Egyptian Stock Exchange’s (EGX) indices retreated early Sunday. The EGX30 index fell 0.73% or 55 points to 7,465 points by 10:55am Cairo time.
On Friday, Standard and Poor’s (S&P) revised its outlook for Egypt to negative from stable, and maintained its rating at ‘B-‘.
A number of the EGX’s leading shares were in the red, spearheaded by CIB-Egypt, the heaviest weighted stock in the benchmark index, which fell 0.84%, while Talaat Mostafa Group (TMG) and EFG Hermes dropped 1.45% and 1.4%, respectively.
The EGX50 index shed 1.09% to 1,391 points, while the EGX70 and EGX100 indices slipped 0.27% and 0.17% to 369 and 779 points.
Turnover at the time reached EGP 53 million, with 16 stocks rising, 64 falling and 34 stablising.
Egyptians sold shares, netting EGP 2.9 million, while foreign and Arab investors’ buying netted EGP 2 million and EGP 853,000, respectively.
