Egyptian Stocks: Commercial International Bank, Sodic, Mobinil
Egypt’s benchmark EGX30 Index (EGX30) retreated for a second day, falling 0.3 percent to 5,018.23 at the 2:30 p.m. close in Cairo. That’s the lowest level in almost a week.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Commercial International Bank Egypt SAE (COMI) advanced as much as 1.9 percent to 24.2 Egyptian pounds before closing at 23.83 pounds. The country’s biggest publicly traded lender is scheduled to report fourth-quarter results after the market close. The average of three analyst estimates is for a profit of 436 million pounds ($72 million), according to data compiled by Bloomberg.
Egyptian Co. for Mobile Services (EMOB EY) lost as much as 1.5 percent to 169.25 pounds before closing at 171.45 pounds. Egypt’s second-biggest mobile network operator was cut to “hold” from “buy” at Deutsche Bank AG.
Six of October Development & Investment Co. (OCDI EY) rose for the first time in three days, gaining 3.4 percent to 15.42 pounds. The luxury-property developer sold units in January valued at 218 million pounds. The company expects middle-income housing to make up 50 percent of its projects in about five years.
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