Egyptian Stocks: Telecom Egypt, Orascom Telecom and Juhayna
Egypt’s benchmark EGX 30 Index (EGX30) rose 2.5 percent to 4,152.29 at the 2:30 p.m. close in Cairo, the biggest daily gain in more than two months. That brought the measures advance to 5.1 percent.
The following shares rose or fell. Symbols are in parentheses.
Juhayna Food Industries (JUFO) jumped 4.8 percent, the most in six months, to 4.82 Egyptian pounds. Egypt’s biggest producer of packaged milk filed further documents with the country’s antitrust commission in response to allegations that it doesn’t pay farmers a fair price for milk, Al Alam Al Youm reported.
Orascom Telecom Holding SAE (ORTE) increased 1.6 percent to 3.22 pounds, the highest level since Oct. 9. North Africa’s biggest mobile-network operator plans to complete a split into two companies by the end of the year, Chairman Khaled Bichara said.
Telecom Egypt (ETEL) , Egypt’s fixed-line phone monopoly, rose 2.6 percent to 14.87 pounds, the highest level in more than two weeks. Vodafone Egypt, the country’s biggest mobile-network operator that is 45 percent-owned by Telecom Egypt, added more than 116,000 subscribers in July, according to data posted on the Ministry of Telecommunications and Information Technology website.
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