Egypt Stocks: Egyptian Kuwaiti, National Co. for Maize, Sodic
Egypt’s benchmark EGX30 Index gained for the first time in five days, advancing 0.4 percent to 7,156.28 at the 2:30 p.m. close in Cairo.
The following stocks rose or fell in Egypt. Symbols are in parentheses.
Egyptian Kuwaiti Holding Co. (EKHO EY) rose 1.2 percent, the most in more than a week, to $1.74. A unit of the Cairo- based private equity firm signed a 1.5 billion Egyptian-pound ($259 million) contract with a French company to build a phosphate fertilizer plant in Egypt.
National Co. for Maize Products (NCMP EY) advanced 3.2 percent to 21.39 pounds, the highest level since March. Corn futures climbed to the highest price in almost 30 months after the U.S. government lowered forecasts for domestic inventories, tightening global food supplies after adverse weather slashed harvests.
Six of October Development & Investment Co. (OCDI EY) gained 1 percent to 109.04 pounds, its highest level in a week. The Cairo-based real-estate developer had its price estimate raised 11.6 percent to 125 pounds with a “buy” recommendation at Deutsche Bank AG on strong pre-sales.
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