egypt’s stock market slides despite imf news
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Egypt’s stock market slides despite IMF news

Arab Today, arab today

Arab Today, arab today Egypt’s stock market slides despite IMF news

Egypt - Agencies

Egypt’s stock market dropped on Thursday for the second day in a row, despite the prime minister's declarations about an IMF visit to the country this month. Egyptian Prime Minister Hisham Qandil said on Thursday he expected an International Monetary Fund team to visit for talks on a $4.8 billion loan agreement. Qandil also said late on Wednesday that the government had now finished drawing up a revised reform programme, seen as vital to securing the loan. Investors did not respond positively as expected, perhaps a result of the history of missed deadlines with regard to the loan arrangements. The main EGX30 index declined 0.28 percent on Thursday to reach 5,715 points, as foreign and Arab investors ended the day’s trading as net-sellers recording net flows of LE10.4 million and LE1.1 million respectively. Egyptian investors were net-buyers at LE11.5 million during the session. Blue chip Orascom Construction Industries (OCI) lost 0.5 percent of its value during the day. Other heavy weights Orascom Telecom Holding (OT) and Commercial International Bank (Egypt) lost 0.9 and 0.37 percent respectively. Juhayna Food Industries gained 2.47 percent to reach LE8.72 after the company announced its profits had soared by 75 percent to LE325.4 million ($48 million). The company has previously announced it intends to invest LE1.2 billion this year. Out of 175 shares traded today, 82 lost in value while 63 gained. Total daily turnover reached LE278 million. The broader index EGX70 gained 0.37 percent. On Wednesday, the market was negatively affected by global rating agency Moody’s downgrade of the country’s government bonds. The EGX30 index declined 0.4 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

egypt’s stock market slides despite imf news egypt’s stock market slides despite imf news

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

egypt’s stock market slides despite imf news egypt’s stock market slides despite imf news

 



GMT 13:49 2017 Thursday ,08 June

Boko Haram kills 11 in NE Nigeria attacks: police

GMT 09:08 2017 Monday ,11 September

Palestinian court grants bail to prominent activist

GMT 00:06 2018 Wednesday ,24 January

Emirates signs agreement for 36 additional A380s

GMT 09:59 2018 Wednesday ,10 January

Pakistan reiterates solidarity with Saudi Arabia

GMT 23:01 2016 Wednesday ,30 November

21 killed in artillery shelling of eastern Aleppo

GMT 09:22 2016 Monday ,10 October

US troops in Kuwait came under 'suicide' attack

GMT 21:14 2017 Tuesday ,21 February

Tatas will lead, not follow

GMT 11:24 2017 Wednesday ,15 February

ISIS kidnapped 16 civilians from Anbar

GMT 19:30 2018 Wednesday ,31 October

King congratulates Antigua and Barbuda Governor-General

GMT 00:05 2017 Thursday ,28 December

Guterres extends mandate of UN-backed Lebanon tribunal
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday