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Egypt: Stocks Inch Down Mid-Trade After Morning Rise

Cairo - After making a slight increase half an hour into trading, the Egyptian stock market's benchmark index EGX 30 edged down again by 0.16 per cent in mid-trade to reach 5,638 points.

The index for small and medium enterprises EGX 70 decreased by 0.21 per cent and the broader index EGX 100 by 0.15 per cent.

Arab investors' transactions registered net purchases while Egyptians and foreigners made net sales.

The Egyptian stock market's main index had inched up by 0.9 per cent at the end of trade on Wednesday in response to Arab investors' purchases.

Since the start of the year, Egypt's stock market has been affected by global oil prices, which have dramatically fallen over the past year and a half amid oversupply. EGX 30 has fallen by 17.87 per cent since the start of trading this year.

Source: ALL AFRICA