On Monday, February 12, the market was stable with only slight downward pressure. Telecoms came back into focus following an Al-Alam Al-Youm newspaper report valuing Misrfone – Click GSM at LE150/share. Accordingly, MobiNiL (EMOB.CA) rallied 0.22 percent to LE72.94 while Orascom Telecom –OT (ORTE.CA) picked up 0.44 percent to close at LE42.69.
In the tourism sector, Orascom Hotel Holdings –OHH (ORHC.CA) continued to plunge despite its upcoming acquisition of Orascom for Projects & Touristic Development –OPTD (OPTD.CA). OHH’s shares lost 4.88 percent in value to close at LE7.21. Elsewhere, aic (AICR.CA) gained 1.65 percent to LE4.92 after recent news of new contracts in Oman and Fayoum. Egyptian Media Production City (MPRC.CA) rose 1.06 percent to LE18.07 with 164,564 shares changing hands.
Overall, the PAMI inched down 0.22 percent to 7,568.5 while the PIPO ended 0.53 percent lower at
1,776.5.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
