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Reuters
Egypt’s main index fell in the first hour of trading on Tuesday by around 2% amid low trade values, after Ethiopia informed Egypt and Sudan last night of the start of the second filling of the reservoir. of the Renaissance dam.
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And at 08:47 GMT, the main market index fell 1.88% to 10,153.3 points, with a market value of 236.3 million pounds.
Shares of Commercial International Bank fell 1.3%, those of Talaat Moustafa Group fell 4.6%, those of Fawry fell 1.8%, those of El Sewedy Electric fell 2.6%, those of Pioneers Holding by 4.7% and those of Beltone by 2.6%.
Commenting on this, Rania Yaqoub, chairman of the board of directors of securities brokerage firm “Threeway”, said, “What is happening are the fear processes of individual investors, which push them to sell on the market. market. End of Trading Market Leading Stocks, there is no need to worry.
The Egyptian Stock Exchange suspended trading in 37 stocks for 10 minutes after they fell more than 5%, and Egyptian stocks lost around 12.3 billion pounds ($ 783.4 million) of their market value during the first hour of trading today.
And the Egyptian Minister of Water Resources and Irrigation, Mohamed Abdel-Aty, announced yesterday that he had received an official letter from his Ethiopian counterpart indicating that Ethiopia had started the second filling of the Renaissance dam reservoir.
In a statement, Abdel-Aty said he had informed his Ethiopian counterpart: “Egypt’s categorical rejection of this unilateral measure, which constitutes a clear and dangerous violation of the agreement on the Declaration of Principles … and will lead to create a dangerous situation that threatens security and peace at the regional and international levels. “
Source: Reuters
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