Egyptian Stocks: Amer Group, Egyptian Kuwaiti Holding and CIB

Egypt’s benchmark EGX 30 Index (EGX30) rose for the second day, gaining 0.7 percent to 5,073.07 at the 1:30 p.m. close in Cairo.

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

Amer Group (AMER EY) climbed 2.2 percent to 1.39 Egyptian pounds, the highest level in almost two weeks. The Cairo-based resorts developer is one of nine companies that were included in the EGX 30 Index as part of a semi-annual reshuffle conducted by the bourse.

Egyptian Kuwaiti Holding Co. (EKHO) gained 2.5 percent to $1.25, the highest level in more than two weeks. The Cairo- based private equity firm agreed with partners to set up a 2.7 billion-pound ($453 million) project that will produce ammonium nitrate and nitric acid in Egypt’s eastern province of Suez.

Commercial International Bank Egypt SAE (COMI) advanced as much as 1.4 percent before closing 0.6 percent higher at 27.17 pounds. Egypt’s biggest publicly traded lender is one of three banks that will finance Egyptian Hydrocarbon Co., the company established by Egyptian Kuwaiti and its partners to run the Suez petrochemicals project.

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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