Egyptian stock alert
CLOSING UPDATE: Alexandria Spinning & Weaving tumbles 7.9% 14 June 2018 15:07 EET
NEWS BITES - MIDDLE EAST & NORTH AFRICA
This is an end of day Alert, produced after today's Egyptian market close. It concludes the BSS News Bites intra-day Alert series (summaries below).
Alexandria Spinning & Weaving, Egypt's 2nd largest textiles company by market capitalisation, traded on volume of 0.1 times average today while the price tumbled 15.0 qirsh (or 7.9%) to trade at LE1.75. Compared with the EGX 30 Index which rose 42.6 points (or 0.3%) in the day, this represented a relative price change of -8.2%.
Technical indicators complementing today's significant downtrend:
+ The stock has underperformed 75% of the Egyptian market over the past 6 months.
+ The price decreased 1.1% in the last week and tumbled 8.4% in the last month.
Alexandria Spinning & Weaving today is at a discount of 36.8% to the 12-month high of LE2.77 on 13 Mar, 2018. It is at a premium of 42.3% to the 12-month low of LE1.23 on 20 Jun, 2017.
Afternoon Alert: Alexandria Spinning & Weaving sinks 5.3% - underperforming 89% of stocks
14 June 2018 12:11 EET
Alexandria Spinning & Weaving Co SAE (CA:SPIN) has sunk 10.0 qirsh (or 5.3%) today to trade at LE1.80 and has underperformed 89% of the market in the past three months.
Alexandria Spinning & Weaving Co SAE (CA:SPIN; CAI:SPIN; EY:SPIN)