The telecom sector had two losses that more than offset one gain. OTH ended the week at EGP69.98/share with a growth of p1.45%. Mobinil saw a q3.68% decrease to close at EGP157.18/share. Telecom Egypt dropped q6.67% to close the week at EGP15.68/share. Akil Beshir, the CEO of Telecom Egypt, said today that he expects the recently announced tariff rebalancing scheme to increase the company's monthly revenues by EGP50 million.

The housing, real estate, and construction sectors saw a split result this week. OCI  gained p1.98% to close at EGP376.80/share. During the week, OCI announced that BESIX, which is 50% owned by OCI, has been awarded a USD400 million contract to design and build Al Safooh Transit System in Dubai, UAE, in a consortium with Alstom and also announced a 20% equity investment in Gavilon which provides physical distribution, merchandising and trading across basic inputs including fertilizer products. TMG Holding increased p0.77% to end the week at EGP9.11/share. Cairo Housing closed the week at EGP24.81 per share and fell a tiny q0.12%. Nasr City Housing saw a loss of q1.11% and had a closing price of EGP53.44/share.

In the steel sector, Al Ezz Steel Rebars saw a decrease of q4.24% to end trading at EGP79.76/share. Al Ezz Steel Rebars released today 1Q08 consolidated results posting a net income of EGP436.4 million versus EGP278.7 million in 1Q07. Egyptian Iron & Steel fell a heavy q11.19% to end the week at EGP41.84/share.  

In the financial sector, Pioneers Holding increased a stunning p87.02% to close at EGP25.94/share. Al Ahli Development & Investment had a price increase of p1.25% to end the week at EGP98.27/share. EFG-Hermes Holding saw a q3.08% decrease to close at EGP48.22/share. And in banking news, Mohamed Barakat, Chairman of Banque du Caire, said the offer to sell the bank to a strategic investor is still on.