Egypt Stocks: Beltone Financial Holding and Telecom Egypt

Egypt’s benchmark EGX 30 Index (EGX30) dropped for a second day, retreating 0.4 percent to 5,042.70 at 1 p.m. in Cairo.

The following shares rose or fell. Symbols are in parentheses.

Beltone Financial Holding (BTFH) surged 7.8 percent, headed for the biggest increase since Feb. 8, to 13 Egyptian pounds. The Egyptian investment bank seeking to sell its brokerage business said it received two offers including a bid from an international investment bank.

Telecom Egypt (ETEL) fell 1.3 percent to 14.78 pounds, headed for the lowest close since Feb. 6. The Arab country’s fixed-line monopoly phone company was cut to neutral from overweight at HSBC Holdings Plc and assigned a share-price estimate of 16 pounds.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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