Egyptian Stocks: Faisal Islamic Bank and NSGB

Egypt’s benchmark EGX30 Index (EGX30) retreated for the first time in four days, losing 1 percent to 5,396.85 at the 2:30 p.m. close in Cairo. That pared the gauge’s advance this week to 0.5 percent.

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

Faisal Islamic Bank of Egypt (FAIT EY) fell 3.2 percent, the most in almost seven months, to 22.25 Egyptian pounds. The Cairo-based lender sold a 14.8 percent stake in Kholoud for Property Development & Tourism at $19.38 a share. The bank’s dollar-denominated stock retreated 0.5 percent to $3.99.

National Societe Generale Bank (NSGB) fell 3.8 percent, the most since December, to 28.17 pounds. The Arab country’s second-biggest publicly traded lender received approval from the market regulator to raise its capital by distributing 1 free share for every 10 held.

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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