Egypt Stocks: Egyptian Resorts and Ismailia Misr Poultry
Egypt’s benchmark EGX30 Index fell for the first time in three days, losing 0.1 percent to 7,202.58 at the 2:30 p.m. close in Cairo. The index gained 0.9 percent this week.
The following stocks rose or fell in Egypt. Symbols are in parentheses.
Egyptian Resorts Co. (EGTS EY) rose 2.4 percent to 2.17 Egyptian pounds, the highest close since Oct. 18. The Cairo- based resorts developer will start marketing units in its Marina project this month, Al Mal newspaper reported, citing Mohamed Shawky, head of corporate governance.
The company “is getting a lot of interest from potential buyers for the Marina project,” Abu Bakr Makhlouf, head of investor relations, said in an e-mailed statement, without elaborating.
Ismailia Misr Poultry Co. (ISMA EY) advanced 3.8 percent to 248.99 pounds, the highest level in two weeks. Poultry prices will probably increase in Egypt because of higher demand during holidays, including Coptic Christmas on Jan. 7, Al Mal reported, citing Abdel Aziz El Sayed, who heads the poultry unit at the Cairo Chamber of Commerce.
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