Limited losses at EGX over past week

The Egyptian Exchange (EGX) has slightly slipped this week on profit-taking after a successful referendum on the constitution. Limited losses were also triggered by selling operations by investment funds to settle their financial position, as well as fears after Standard and Poor's downgraded Egypt's long-term credit rating from B to B- because of elevated tensions over its political crisis. Market capital lost about 720 million pounds to reach 373.2 billion pounds compared to 373.9 billion the week before. The benchmark EGX 30 index went down by 0.47 percent to 5418 points. The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) drew back by 1.71 percent to 479 points. The all-embracing EGX 100 index followed suit with 1.12 percent, taking the index down to 801 points.