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Prices for CIB-Egypt certificates traded on the London Stock Exchange rose during Friday trading by 14.2 percent to $ 4 for the certificate.
Capital market analysts told the Middle East News Agency that the certificates of deposit of the International Commercial Bank during the day today exceeded the sharp decline recorded during the day yesterday.
Ahmed Abdel Hamid, Managing Director of Wateqah Securities Trading Company, said that the drop in the Commercial International Bank – Egypt certificates yesterday on the London Stock Exchange was a temporary drop, and it was with very weak trading volumes whose value did not exceeded $ 5 million, confirming the reluctance of investors to lose what they own certificates and shares in the bank.
He added that whoever sold what he owned of certificates of deposit in the Commercial International Bank, made huge losses, especially in light of ensuring that the current conditions are temporary, and soon the performance of the bank’s shares and certificates on the Stock Exchange. London Securities will restore its balance and true value, which is what really happened during trading on Friday. .
Abdel Hamid expected a good performance for the Egyptian Stock Exchange during the next week starting on Sunday, in light of the market strength in the current period, regardless of some stocks falling during the trading days on Wednesday and Thursday, due to deliberate pressure in the market to buy stocks at low prices, indicating Until any decline is temporary and the market will soon regain its true uptrend.
The managing director of Wateqah Securities Brokerage advised all investors in the stock market not to be swayed by rumors spread by speculators to pressure them to divest their shares at low prices, noting that economic and political conditions they have not been significantly stable in Egypt for the last ten years.
