Egyptian Stocks: Lecico Egypt, Sodic and Medinet Nasr Housing

Egypt’s benchmark EGX30 Index (EGX30) fell for a third day, losing 0.7 percent to 4,967.15 at the 2:30 p.m. close in Cairo. That pared the measure’s increase for the week to 4.5 percent.

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.

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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