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Last Trade - 04/04/18

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Market Cap £14.3m
Enterprise Value £214.0m
Revenue £236.1m
Position in Universe th / 1828

MIDEAST STOCKS-Egypt, Saudi drop in global rout; Saudi breaks chart support

Thu 11th February, 2016 9:05am
DUBAI, Feb 11 (Reuters) - Egypt's stock market fell in early 
trade on Thursday, erasing the previous day's gain as global 
bourses sagged, while Saudi Arabia's index was headed for a 
third straight day of losses after oil slid back near $30. 
    Cairo's main index  .EGX30  fell 1.0 percent in the first 30 
minutes with Egypt's largest bank by market value, Commercial 
International Bank  COMI.CA , dropping 1.6 percent after it 
recorded fourth-quarter net profit of 1.2 billion Egyptian 
pounds ($192 million), up 11 percent from a year earlier.  
    "The strong performance at the top line was partially offset 
by higher operating expenses and provisioning," said a note by 
Cairo-based Naeem brokerage, though it upgraded the stock to 
"buy" from "accumulate". 
    Orascom Telecom  OTMT.CA  was down 1.8 percent. The 
conglomerate's board has approved its final offer for the 
acquisition of CI Capital, a subsidiary of CIB, the company said 
on Thursday. 
    But Beltone Financial  BTFH.CA , taken over by Orascom late 
last year, surged 9.8 percent after it gained by the same amount 
on the previous day. Investors think Beltone will benefit 
strategically under new ownership. 
    Saudi Arabia's index  .TASI  fell 1.1 percent to 5,769 
points, confirming a break below technical support at the early 
February low of 5,834 points. This triggers a minor double top 
formed by the end-January and February highs and targeting about 
5,600 points. 
    The petrochemical sector was the main drag with Saudi Basic 
Industries  2010.SE , the largest listed stock by market value, 
down 1.5 percent. 
 
 (Reporting by Celine Aswad; Editing by Andrew Torchia) 
 ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters 
Messaging: andrew.torchia.thomsonreuters.com@reuters.net)) 
 
Keywords: MIDEAST STOCKS/SAUDI EGYPT

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