EFIC, Commercial International, Egytrans: Egypt Equity Preview

The following companies may be active in Egypt’s stock market. Symbols are in parentheses and prices are from the last close.

The benchmark EGX30 Index rose 2.5 percent to 5,080.95 in Cairo.

Egyptian Financial & Industrial Co. (EFIC) : Egypt’s biggest publicly-traded phosphate-based fertilizers producer said it had a net loss of 8.1 million pounds ($1.4 million) in 2010 compared with a profit of 25.6 million pounds in the previous year. The shares fell 0.8 percent to 13.99 pounds.

Commercial International Bank Egypt SAE (COMI) : Moody’s Investors Service revised the outlook for the Egyptian banks in the next 12 months to 18 months to “negative” from “stable,” reflecting “elevated political uncertainty.” The shares rose 2.2 percent to 28.63 pounds.

Egyptian Transport and Commercial Services SAE (ETRS EY): The Cairo-based freight services company, also known as Egytrans, was cut to “hold” from “buy” and had its share price estimate reduced by 40 percent to 10.9 pounds at CI Capital because of the country’s economic downturn. The shares advanced 2.6 percent to 9.87 pounds.

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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