EGX 30 drops 2.13% as Qalaa leads EGP 1.14 bln in turnover

The EGX 30 closed down 2.1348% at 51,256.7 points on June 10, while Qalaa drew EGP 1.14 billion in turnover despite a 6.7% drop, according to the market note cited in analyst reports. On the deal front, the government completed the sale of a 10% stake in Telecom Egypt in the final tranche, Ahram Online reported. Orascom Construction sealed 2 contracts tied to Cairo Metro Line 4 and the high-speed rail project, while the group also reported quarterly net income of $24.5 million, according to Ahram Online. In financing, EFG Hermes led a landmark EGP 5.1 billion corporate bond for EGP Corp-Solutions, while Cleopatra Hospital posted standalone first-quarter profit of EGP 132.8 million, according to ZAWYA and TradingView.