Egypt's bourse slips from Wednesday's four-week high as investors book gains ahead of the weekend and the second round of voting on a new constitution.
Large-caps Orascom Construction Industries falls 1.9 percent and Orascom Telecom sheds 0.5 percent. Amer Group drops 9.5 percent, after a dividend payout of 12.2 percent.
"I don't think that we will see another rally in the near term even if the political situation ends," says Mohabeldeen
Agena, head of technical analysis at Cairo's Beltone Financial. "We might move flat, trying to absorb the selling pressure that exist in the upper levels. Any sharp rise in the currency will change my view from neutral to bullish."
No comments:
Post a Comment