Egypt Stocks: Egyptian Resorts and Orascom Development Holding

Egypt’s benchmark EGX30 Index fell for the first time in three days, losing 0.4 percent to 6,735.82 at the 2:30 p.m. close in Cairo.

The following stocks rose or fell in Egypt. Symbols are in parentheses.

Egyptian Resorts Co. (EGTS EY) fell 1.5 percent to 1.97 Egyptian pounds, its lowest level in more than two weeks. The Cairo-based property developer was cut to “hold” from “strong buy” at investment bank CI Capital.

Orascom Development Holding AG (ODHN EY) advanced 1.9 percent, the biggest gain in more than a month, to 16.31 pounds. The Altdorf, Switzerland-based resorts builder is in talks to borrow 30 million euros ($39.9 million) to 40 million euros to finance projects in Switzerland, Oman, Morocco and Romania, Al Mal newspaper said, citing Chairman Samih Sawiris.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.

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