Egypt Stocks: El Nasr Clothes & Textiles and National Societe

Egypt’s benchmark EGX 30 Index (EGX30) declined for a third day, losing 1.6 percent to 4,538.58 at the 2:30 p.m. close in Cairo. That’s the lowest level in more than a month.

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

El Nasr Clothes & Textiles (KABO) , an Egyptian clothing manufacturer and biggest shareholder of Alexandria Spinning & Weaving, advanced as much as 1.3 percent before closing unchanged at 80 piasters. Egypt’s Ministry of Trade and Industry may levy customs duties on textile imports after receiving a complaint from the state-owned Holding Co. for Spinning & Weaving, Al Mal reported.

National Societe Generale Bank (NSGB EY) retreated 3.3 percent, the most in more than three weeks, to 28.8 pounds. Societe Generale (GLE) SA, the parent company of the Cairo-based lender, plans to cut jobs at three of its units including the one in Egypt.

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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