On Wednesday, August 22, the market continued to slide on lack of stimulating news. The PAMI index fell 61 points or 1 percent to 6,054.9. Orascom Telecom, OT, declined 2.27 percent to LE17.68 still pressured by MSCI lowering its market cap factor. Meanwhile, MobiNiL remained stable at LE52.99.
Elsewhere, Media Production City released 1H results which disappointed investors as the company posted a 5.8 percent drop in net income compared to last year. Accordingly, the stock lost 3.94 percent to end the session at LE9.26.
In the cement sector activity was mixed as Suez Cement and Helwan Cement posted modest gains of 0.28 percent and 0.16 percent, respectively, while Sinai Cement and National Cement declined 1.54 percent and 4.38 percent, respectively. Al Ahram Beverages fell limit down as bids disappeared mid session to close nearly at its year low at LE39.28.
Prime Securities S.A.E.
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