Egypt Stocks: Arabia Investments, Medinet Nasr for Housing

Egypt’s benchmark EGX 30 Index rose to the highest in more than a month, gaining 0.7 percent to 3,904.09 at the 2:30 p.m. close in Cairo.

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

Arabia Investments & Development & Financial Investments Holding Co. (AIND EY) rose 1.8 percent to 0.56 piasters, the highest since Dec. 11. The Egyptian investment firm said it agreed yesterday to buy a stake of about 20 percent in Beltone Financial Holding (BTFH) . Beltone shares climbed for the first time in four days, gaining 0.4 percent to 14.05 Egyptian pounds.

Medinet Nasr for Housing (MNHD EY) advanced to the highest in almost a month, gaining 2 percent to 11.53 Egyptian pounds. The developer of middle- and low-income homes said sales contracts increased in 2011 even as the country was roiled by political turmoil.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net