Analysts in the capital market told the Middle East News Agency that the certificates of deposit of the Commercial International Bank exceeded during today’s trading the sharp decline recorded during the trading yesterday.
Ahmed Abdel Hamid, managing director of Wateqah Securities Trading Company, said that the drop recorded by the certificates of the Commercial International Bank – Egypt yesterday on the London Stock Exchange was a temporary decline, and it was with very weak trading volumes whose value did not exceed $ 5 million, which confirms the investors ’unwillingness to lose what They own certificates and shares in the bank.
He added that everyone who sold his possession of certificates of deposit at the Commercial International Bank achieved huge losses, especially in light of making sure that the current conditions are temporary conditions, and soon the performance of the bank’s shares and certificates on the London Stock Exchange will restore their balance and real value, which is what actually happened during Friday’s trading. .
Abdel Hamid expected a good performance for the Egyptian Stock Exchange during next week’s trading that begins on Sunday, in light of the market’s strength in the current period, regardless of the decline in some stocks during the trading days of Wednesday and Thursday, due to deliberate pressure on the market to buy shares at low prices, indicating Until any decline will be temporary, and the market will soon recover its true bullish trend.
The managing director of Wateqah Securities Trading Company advised all stock market investors not to be led by the rumors released by speculators in order to pressure them to get rid of their shares at low prices, stressing that the economic and political conditions are largely stable that Egypt has not witnessed over the past ten years.
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