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الصباح
Egyptian stocks fall after Damietta attack
The performance of the Egyptian stock exchange declined on Thursday due to selling pressures led by Egyptian investors, amid a cautious atmosphere linked to recent geopolitical developments, especially the attack that targeted two gas ships at the Damietta port. The market lost 22.3 billion Egyptian pounds in market capitalization, with most indices posting declines. The EGX30 index decreased by 0.35% to 53,442 points, the EGX70 fell by 1.03%, and the EGX100 dropped by 0.91%. Conversely, the EGX35-LV index rose by 0.85%. Egyptians recorded net sales worth 275.7 million pounds, while Arab and foreign investors made purchases totaling 45.5 million and 230.2 million pounds respectively. These declines come amid escalating security concerns following the attack on Damietta port, prompting investors to exercise caution despite continued investments by institutions and foreigners.
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