Sidi Kerir Petrochemicals, Suez Canal Bank: 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 EGX 30 Index advanced 0.4 percent to 5,421.23 in Cairo.

Sidi Kerir Petrochemicals Co. (SKPC EY): The Alexandria, Egypt-based chemicals manufacturer was cut to “reduce” from “neutral” and had its share-price estimate set at 14 Egyptian pounds at Nomura Holdings Inc. The shares advanced 0.4 percent to 14.5 pounds.

Suez Canal Bank (CANA) : The Cairo-based lender said first-quarter profit fell almost a third to 20.7 million pounds ($3.5 million). The shares rose 4.8 percent to 6.74 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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.