EGX resumes negative performance, benchmark dips 0.6%
Egyptian stock exchange in Cairo - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) extended its losing streak at the close of Sunday’s session, hurt by local and Arab selling pressures.

The benchmark index EGX30 retreated 0.59 percent, to end at 8,729 points, down from 8,780 points on Thursday.

Further, the small and mid-cap index EGX70 lost 0.36 percent to end at 461.9 points, compared to 463.6 points in its last session. The broader index EGX100 fell by 0.37 percent, registering 975 points.

Market capitalization shed around 2.8 billion EGP ($366.97 million,) totaling 495.2 billion EGP, down from 498 billion EGP Thursday.

On Thursday, Egypt’s market lost ground and the benchmark retreated 1.4 percent due to selling pressures, namely on leading stocks.

The market shrugged off positive drivers from President Abdel Fattah al-Sisi’s first official visit to Germany last week which witnessed signing an 8 billion-euro-deal ($9 billion) with industrial group Siemens to supply gas and wind power plants.

The deal is aimed to boost Egypt’s power generation by 50 percent, according to Reuters.

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