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[2007-07-30] Egypt’s indexes decline CAIRO • Egyptian indexes fell yesterday as foreign investors sold big caps including Commercial International Bank (CIB) and Orascom Construction Industries (OCI), brokers said.
“The decline in nearly all global markets led stocks with more foreign interest to go lower, creating a general bearish mood as buyers generally shied away,” Mohamed Radwan of Delta Securities said.
Global equity markets ended the week with some Wall Street indexes giving their worst performance since September 2002 and heavy losses in London and Tokyo as credit market concerns battered prices.
“Foreign investors sold double what they bought while Arab investors were selling more than that,” said Hossam Abdel Rahman of Optima Securities.
