Egypt Stocks: Amoc, Medinet, Orascom Construction, South Valley

Egypt’s benchmark EGX 30 Index (EGX30) climbed 2.3 percent to 4,729.26 at the 1:30 p.m. close in Cairo, the highest level in more than a week.

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

Alexandria Mineral Oils Co. (AMOC) lost 1.5 percent, the most since Aug. 9, to 76.75 Egyptian pounds. The Egyptian chemicals producer, also known as Amoc, will be cut from the Morgan Stanley Capital International Egypt Index as of Aug. 31.

Medinet Nasr Housing (MNHD) declined 1 percent to 15.79 pounds, the lowest level since December 2006. The Cairo-based real-estate developer said six-month profit fell 53 percent from a year earlier to 20.5 million pounds ($3.4 million).

Orascom Construction Industries (OCIC) jumped 2.4 percent to 253.53 pounds, the highest level in almost two weeks. Egypt’s biggest publicly traded builder said it won a $181 million contract for civil works on a power plant in Giza, Egypt.

South Valley Cement (SVCE) advanced for the first time in five days, gaining 1.8 percent to 3.91 pounds. The Cairo- based producer of the building material said its board of directors approved buying back 1 million shares to support the stock price.

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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