Egyptian Stocks: Credit Agricole Egypt and Heliopolis Housing

Egypt’s benchmark EGX 30 Index (EGX30) advanced for the first time in four days, increasing 0.8 percent to 4,424.02 at the 2:30 p.m. close in Cairo, bringing the gain this week to 1.9 percent.

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

Credit Agricole Egypt (CIEB EY) climbed 3.8 percent, the most since July 13, to 9.02 Egyptian pounds. The Cairo-based lender said nine-month profit declined 26 percent to 239.2 million pounds ($40.1 million). That implies a third-quarter profit of 98.46 million pounds, according to Bloomberg calculations, beating the 78.75 million-pound mean estimate of four analysts profit on Bloomberg.

Heliopolis Housing (HELI) advanced as much as 2.1 percent before closing 0.5 percent higher at 13.76 pounds, the highest since Oct. 23. The Egyptian property developer said nine-month profit increased 9.4 percent to 41.5 million pounds from a year earlier.

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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