Egyptian bourse performed in mixed manner in the past week trading, amid heightened anticipation regarding status of leading corporates and effects resulting from government decision to levy fees on initial trading at the market.
The weekly report of the market, released on Friday, said the week started with drastic fall, amid jitters among small investors regarding the incident of killing soldiers in Sinai. These traders resorted to hefty sales due to deep concerns.
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, jitters restored.
The bourse main index (EGX) rose 0.67 percent, closing at the level of 5, 611 points.
EGX 70 index dropped to the level of 514 points. EGX 100, meanwhile, decreased 1.82 percent to the level of 852 points while the EGX 20 dropped 0.
78 percent 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.