Egyptian Stocks: Delta Sugar and Egyptian Gulf Bank Were Active

Egypt’s benchmark EGX 30 Index (EGX30) dropped the most in more than a month, retreating 1.9 percent to 4,298.73 at the 2:30 p.m. close in Cairo.

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

Delta Sugar Co. (SUGR) , Egypt’s biggest publicly traded sugar refiner, retreated as much as 2.8 percent before closing 0.6 percent lower at 20.25 pounds. State-run Sugar & Integrated Industries Co. delayed a tender for 50,000 to 80,000 metric tons of raw sugar until Nov. 20 because of high prices, Hussein Ahmed, a purchasing manager at the company, said today.

Egyptian Gulf Bank (EGBE) lost 3.5 percent, the most in almost two months, to $1.65. The Cairo-based lender said its nine-month profit dropped by more than a third to 48.3 million pounds ($8.1 million) 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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