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Article: News in brief.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- August 19, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Egypt index dips on global stock woes
Egypt's main index dipped 1.7 percent to 6,189 points in low volumes with wary investors holding back as Asian and European shares decline.
"There's a lot of uncertainty in the market based on what's happening in Asia," said Ashraf Akhnoukh of CIBC Brokerage. "Volumes are lower than of late."
Chinese shares slumped 5 percent and the rest of Asia and Europe followed on growing fears that global investors were pulling the plug on a six-month rally amid doubts about a global economic recovery.
Orascom Telecom and Orascom Construction Industries led the index down, losing 2.4 and 1 percent, ...