Egyptian Stocks: Orascom Construction, Raya Holding, Asek Co.

Egypt’s benchmark EGX30 Index (EGX30) rose 2.5 percent to 5,269.65, the highest since July 10, at the 2:30 p.m. close in Cairo.

The following shares were active on the Egyptian Exchange. Stock symbols follow company names.

Asek Co. for Mining (ASCM EY) declined 1 percent to 10.01 Egyptian pounds, the lowest close since Feb. 22. The unit of private equity firm Citadel Capital SAE reported a full-year loss of 96.8 million pounds ($16 million) after a profit in the year-earlier period.

Orascom Construction Industries (OCIC) climbed 3.6 percent to 270.37 pounds, the highest close in more than seven months. A group led by Egypt’s biggest publicly traded builder is competing with three others to build a hotel in central Cairo’s Tahrir Square, Al Mal newspaper reported today. The winner is expected to be announced in April, it said.

Raya Holding Co. (RAYA) gained 4.6 percent to 4.56 pounds, the highest close since Feb. 14. The provider of information technology approved investing in a company to be set up in Abu Dhabi and closing its unit in Algeria.

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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