Cairo - Mubasher: The Egyptian Exchange (EGX) finished the week at a lower level, amidst anticipation for the Central Bank of Egypt (CBE) policy meeting later on Thursday.
The majority of experts, including macroeconomic analysts and heads of investments banks, believe the CBE will maintain interest at its current levels, according to a Mubasher survey.
Benchmark index EGX30 declined 0.37% to 13,681.67 points, while the small and medium-sized enterprise index EGX70 settled 1.1% lower at the level of 695 points.
The broader index EGX100 decreased by 1.27% to 1,737.98 points, and the equal-weighted EGX50 also fell 0.79% to 2,182.98 points.
The head of investor relations at Arabeya Online Brokerage, Michael Mamdouh told Mubasher that EGX30 has maintained a downwards trend on the medium run, with horizontal movements on the short term, with fluctuations between support and resistance levels.
The same also goes for EGX70, which is nearing the resistance at 700 points, he added.
High anticipation for the monetary policy meeting, Global Telecom negotiations, and Sarwa Capital’s IPO dominated the scene this week, the analyst explained.
