Egypt Independent

Egyptian stock market falls 0.03 %

The EGX30, the Egyptian Stock Exchange's benchmark index, fell 0.03 percent Tuesday, signaling a possible slowdown since it began reporting significant losses last week.

Since 21 February, the EGX30 lost 80.5 points amid deepening investor concern over the country’s ability to secure a US$4.8 billion loan from the International Monetary Fund.

Fertilizer and cement companies were among Tuesday's losers following a government decision to lift subsidies on fuel for heavy industries.

South Valley Cement Corporation stocks fell 0.95 percent, while shares in Samad Fertilizers dropped 0.16 percent.