|
|
Article: News in brief.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- October 13, 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)
|
Egypt index drops 0.2 pct, CIB leads
Egypt's benchmark index edged down 0.2 percent on Tuesday, mainly on profit taking, led by Commercial International Bank (CIB).
"The market is down mainly because in the past few days it approached 6,850 points, a major support level which triggered profit taking today," said Nihal Hany, a trader at HC Securities.
Shares of CIB slid 1.3 percent and Orascom Construction Industries 0.2 percent.
"Suspension on several small caps also had a high impact on the market today because they were previously active," Hany said. "As a result, investors' interest has shifted to blue-chips...which are stable and ...