Egyptian Stocks: Lecico Egypt, Sodic and Medinet Nasr Housing
The following shares were active on the Egyptian Exchange today. Stock symbols follow company names.
Lecico Egypt (LCSW) gained 2 percent to 6.76 Egyptian pounds, the highest level since September. The producer of sanitary ware and tiles said fourth-quarter revenue rose 11 percent to 266.3 million pounds ($44 million).
Six of October Development & Investment Co. (OCDI EY) climbed for an eighth day, surging 8 percent to 15.02 pounds, the highest level in five months. Investors are betting the Cairo-based property developer is in talks to buy Beltone Financial Holding (BTFH)’s stake in Medinet Nasr (MNHD) Housing.
Medinet Nasr (MNHD EY), Egypt’s second-biggest publicly traded real-estate developer by market value, increased 8 percent to 16.45 pounds, the highest level in more than six months. Sodic and Medinet Nasr said in statements to the Egyptian bourse they had no “material news” to report.
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