On Thursday, February 1, the market remained stable with a slight downward bias. The telecom sector posted gains, as MobiNiL (EMOB.CA) edged up 2.60 percent to LE79.29 while Orascom Telecom –OT (ORTE.CA) inched up a meager 0.02 percent to LE45.87.
Construction stocks generally ended lower. OCI (OCIC.CA)was down slightly 0.11 percent to LE37.62 while aic (AICR.CA)was down 2.72 percent to E5.36. Conversely, cement shares bucked market trend. Suez Cement (SUCE.CA), Helwan Cement (HELW.CA) and Sinai Cement (SCEM.CA) all closed higher, rising 2.71 percent, 0.38 percent and 4.92 percent, respectively, at LE37.16, LE37.32 and LE16.22.
Other liquid shares, however, also resisted the market’s downward bias. Commercial International Bank –CIB (COMI.CA) nudged 1.10 percent higher to LE40.48. Lakah Group (HCFI.CA) was the day’s volume leader with 2.44 million shares changing hands to close 3 percent higher at LE2.40.
Overall, the PAMI slipped a modest 0.39 percent to 7,952.2 while the PIPO rose 0.20 percent to 1,822.2.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
