Egyptian Stocks: Amer Group, Arab Cotton, Orascom Telecom
Egypt’s benchmark EGX30 Index (EGX30) fell for a fourth day, losing 3.3 percent to 5,052.18 at the 2:30 p.m. close in Cairo. That’s the biggest loss since Dec. 18.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Amer Group Holding (AMER) plunged 7.7 percent, the most since November, to 72 piasters. The Cairo-based developer and operator of resorts and restaurants said 2011 profit declined 56 percent to 247.1 million Egyptian pounds ($41 million) from a year earlier.
Arab Cotton Ginning (ACGC) slumped 5.3 percent, the most in almost three months, to 2.88 pounds. The cotton producer reported a six-month loss for the period that ended Dec. 31 of 29.5 million pounds after a 47.4 million-pound profit a year earlier.
Orascom Telecom Holding SAE (ORTE) dropped 4.9 percent, the most in almost four months, to 4.07 pounds. North Africa’s biggest mobile phone company reported a fourth-quarter loss of $91 million.
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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