(Reuters) - Main Egyptian stock indexes dropped on Wednesday driven by market mainstay Orascom Telecom (OT), which shed 1.5 percent after offering to acquire technology and communications firm Raya.
But traders said the drop in the OT share price to 77.60 pounds was probably not related with the offer to buy Raya and may be attributed to profit-taking that has hit blue-chip stocks after a bullish run last week saw the market hit record closing highs.
Read more at Reuters Africa
But traders said the drop in the OT share price to 77.60 pounds was probably not related with the offer to buy Raya and may be attributed to profit-taking that has hit blue-chip stocks after a bullish run last week saw the market hit record closing highs.
Read more at Reuters Africa
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