MIDEAST STOCKS-Egypt hit by blue-chip sell-off; Gulf trade calm | Nasdaq

MIDEAST STOCKS-Egypt hit by blue-chip sell-off; Gulf trade calm | Nasdaq:

The Egyptian stock market ended lower on Wednesday, pulled down by its blue-chip shares, while trade on major bourses in the Gulf was uneventful.

Egypt's blue-chip index .EGX30 declined 1.1%, pressured by a 1.8% fall in Commercial International Bank COMI.CA and a 3.4% drop in tobacco monopoly Eastern Company EAST.CA.

Stock exchange data showed foreign investors were net-sellers of Egyptian stocks.

In Qatar, the index .QSI dropped 0.8%, with petrochemical company Industries Qatar IQCD.QA dropping 1.6% and Qatar Islamic Bank QISB.QA declining 1.3%.

The Gulf state will begin lifting coronavirus lockdown restrictions under a four-phase plan starting on June 15, when some mosques can reopen and flights can depart, government spokeswoman Lulwa Rashed al-Khater said on Monday.