Performance of Egypt’s bourse mixe in past week traiding

Amid heightened anticipation regarding status of leading corporates and effects resulting from government decision to levy fees on initial trading at the market, Egyptian bourse performed in mixed manner in the past week trading. The weekly report of the market, released here on Friday, said the week activities started with drastic fall when the traders resorted to hefty sales due to deep concerns regarding the incident of killing soldiers in Sinai. Indexes of the market, in later sessions, rose to various level, positively affected by news about prospected solution to the tax crisis of Orascom construction Company. It was charged with evading taxes, amounting to 14 billion pounds, from a 2008 deal. However, when the company denied the positive news about the expected settlement. The bourse main index (EGX) rose 0.67%, closing at the level of 5,611 points. EGX 70 index dropped to the level of 514 points. EGX 100, meanwhile, decreased 1.82% to the level of 852 points while the EGX 20 dropped 0.78% to reach 6,458 points. Trading value amounted to 4.4 billion pounds. turnout some 703 million, done in 122,000 operations, compared with 2.2 million pounds, 582 million stocks (of 115 deals), the week before. Earlier this week, the Egyptian Stock Exchange (ESE) gained some LE 5.3 billion at the end of trading on Tuesday 6/11/2012, amid intensive purchasing operations by foreign investors. The EGX 30 benchmark index inched up 1.78% to close at 5,567.5 points. The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) was up 2.1 to reach 515.73 points. The overall EGX 100 index drew up by 1.83% , finishing at 8,52.78 points.