Egyptian stock alert

EGYPT

CLOSING UPDATE: MM Group for Industry and International Trade keeps sliding: down 8.0% in 3 days 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).

MM Group for Industry and International Trade, Egypt's largest retailer company by market capitalisation, extended its slide on Thursday, shedding an additional 50.0 qirsh (or 3.0%) to trade at LE16.0. Trading volume was 52% of average at the end of the day. The shares have fallen LE1.40 (or 8.0%) over the past three trading days vs. the EGX 30 Index which has risen 1.9% in the same period.

Technical indicators complementing today's significant downtrend:

+ The price sank 5.3% in the last week and 5.3% in the last month.

TODAY'S ALERT

Afternoon Alert: MM Group for Industry and International Trade drops 3.0%, leads Retail sector lower

14 June 2018 12:11 EET

MM Group for Industry and International Trade SAE (CA:MTIE) has dropped 3.0% to trade at LE16.0 vs. the Retail sector which weakened 215.5 points (or 2.4%) to 8,728.3. Representing a weighting of about 80.6% of the sector, the stock accounted for the loss. The shares have underperformed 97% of the market in the past week. Trading volume was 1.4 times average so far today.

MM Group for Industry and International Trade SAE (CA:MTIE; CAI:MTIE; EY:MTIE)

ISIN: EGS75011C014

PermID: 4298087758

Source: www.BuySellSignals.com