Breaking News

Tweet TWEET

Egyptian Stocks: Arabia Investments, Sidi Kerir, Six of October

Egypt’s benchmark EGX 30 Index (EGX30) declined for the eighth day, losing 0.5 percent to 5,022.25 at the 2:30 p.m. close in Cairo, the lowest level in more than two weeks. The gauge has dropped 2.2 percent this week, bringing the decline this month to 6.5 percent.

The following shares rose or fell. Symbols are in parentheses.

Arabia Investments & Development & Financial Investments Holding Co. (AIND) advanced 1.3 percent to 77 piasters, the highest level since July 10. The Cairo-based company said six- month profit to June 30 rose 6 percent to 24.6 million Egyptian pounds ($4.1 million) from a year-earlier.

Sidi Kerir Petrochemicals Co. (SKPC EY) gained as much as 1 percent before closing 0.4 percent higher at 13.99 pounds, the highest since July 18. The Alexandria, Egypt-based chemicals producer said six-month profit for the period to June 30 rose to 471 million pounds from 421 million pounds a year earlier.

Six of October Development & Investment (OCDI) Co climbed 2.1 percent, the most in more than two weeks, to 23.15 pounds. Egypt’s third-biggest property developer implemented a five-for-two stock split, reducing the nominal value of its shares to 4 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

Press spacebar to pause and continue. Press esc to stop.

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.