Egyptian Stocks: Commercial International Bank, Olympic Group

Egypt’s benchmark EGX30 Index dropped for the first time this week, declining 0.3 percent to 5,463.72 at the 1:30 p.m. close in Cairo. The gauge has declined 24 percent in the quarter.

The following shares rose or fell in Cairo today. Symbols are in parenthesis.

Commercial International Bank Egypt SAE (COMI) retreated for the first time in three days, sliding 1.3 percent to 32.65 Egyptian pounds. Morgan Stanley lowered Egypt’s biggest publicly traded bank to “underweight” from “equal-weight.”

Olympic Group Financial Investments (OLGR) fell for the first time in five days, declining 5.2 percent to 34.09 pounds. The country’s biggest publicly traded household appliance maker said 2010 net income dropped 18 percent to 127.8 million pounds ($21.4 million).

Sidi Kerir Petrochemicals Co. (SKPC EY) climbed to the highest level since Jan. 17, advancing 1.1 percent to 14.5 pounds. The company approved a dividend of 1.40 pounds per share for 2010.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

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

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