Egyptian Stocks: Egyptian Resorts and National Co. for Maize

Egypt’s benchmark EGX 30 Index (EGX30) lost 4.2 percent, the most since March 23, to 4,798.89 at the 1:30 p.m. close in Cairo.

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

Egyptian Resorts Co. (EGTS) fell 5.3 percent, the most in almost a month, to 1.08 Egyptian pounds. Egypt’s Tourism Development Authority has set $5 to $12 as the new price range per square meter of land reclaimed from developers of tourist areas, Al Mal reported, citing an unidentified official at the authority. The tourism agency will return the land to the developers if they agree to pay the new rate, the newspaper reported.

National Co. for Maize Products (NCMP EY) retreated 3 percent, the most in more than a month, to 17 pounds. The Cairo- based producer of sweeteners said six-month profit declined 28 percent from a year-earlier to 30.7 million Egyptian pounds ($5.2 million).

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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