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EGX seen extending sideways movement on political deadlock; NSGB deal lost allure

Yasser El Masry, an expert, said that indices of The Egyptian Exchange (EGX) are expected to extend their sideways movement today, amid lack of signs in the horizon for a solution to the current political wrangling. A rally in the local bourse hinges upon the formation of a timetable and clear outlook for economic conditions.
In addition, calls for civil disobedience and violence seen in several parts of the country negatively impact efforts to allure fresh investments, the expert added.He indicated that main benchmark EGX30 is hovering between 5500-5800 pts. El Masry also state that QNB-NSGB takeover deal lost its allure and will unlikely have an impact on today’s session.

Date : 2013-02-25 01:29:14 Source : Mubasher

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