Egypt's Citadel Capital held its ground on trading, but the company's stock may see some selling pressure by retail investors after reporting a net loss of $241.7 million for last year, Alembic HC said.
The private equity firm did not provide a comparative figure for last year.
The loss was driven by impairment charges and provisions related to upstream oil and gas investments.
"We had assumed a full writedown of these investments, and the majority of investors and consensus have been doing the same, but we could see some selling pressure from retail investors on the back of the results," AlembicHC said in a note to clients.
Shares of Citadel were up 0.4 per cent to 6.21 pounds on the exchange, buoyed by acquisition rumours. The company rebuffed the rumour today, stating it has not received an offer to buy shares in the company at 8 pounds per share, in a filing to the Egyptian exchange.
Egypt's benchmark, the EGX30 Index was unchanged at 5522.01 points.
In the UAE, the Abu Dhabi Securities Exchange closed 1 per cent higher to 2666.01 points. The Dubai Financial Market General Index was up 0.8 per cent to 1573.39 points.
Elsewhere in the region, Kuwait's measure was up 0.1 per cent to 6390.10. Bahrain's index was up 0.1 per cent to 1349.07. Oman's index added 1.1 per cent to 6075.07. Qatar's index lost 0.5 per cent to 8326.67. The Saudi Tadawul All-Share Index was up 0.4 per cent to 6763.26.
