Egyptian Stocks: Palm Hills Developments, Oriental Weavers
The following shares rose or fell. Symbols are in parentheses.
Palm Hills Developments SAE (PHDC) declined 3.2 percent to 1.20 pounds, the lowest level in more than five weeks. The Egyptian luxury real-estate developer said an appeal of a verdict to strip it of a land plot it had bought from the government was referred to a judiciary panel.
Oriental Weaver Carpets Co. (ORWE EY) fell to the lowest level in more than a month, losing 2.9 percent to 30 pounds. The world’s biggest machine-made carpet manufacturer said its nine- month profit dropped 23 percent to 185.5 million pounds compared with a year earlier.
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