EGX expects good performance as CIB deposit certificates climb on LSE

EGX expects good performance as CIB deposit certificates climb on LSE

Stock market traders project that the Egyptian Exchange (EGX) will be exposed to some minor selling pressures on Commercial International Bank (CIB) shares at the beginning of trading on Sunday.They expect that this may cast a shadow over the performance of the rest of the shares, particularly as the CIB has the largest relative weight on the EGX.The performance in general will shift quickly to “positive”, against the background of the strong performance recorded by the bank's certificates of deposit on the London Stock Exchange (LSE) at the end of the last week's trading.There is expected to be some positive offsets caused by the appointment of a new chairperson to the CIB. This has created a state of calm and confidence among investors, especially after the Central Bank of Egypt's