Egyptian Stocks: Amer Group Holding and GB Auto Were Active
Egypt’s benchmark EGX30 Index (EGX30) dropped 3.6 percent, the most in more than four months, to 4,962.42 at the 2:30 p.m. close in Cairo.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Amer Group Holding (AMER) slumped 5.4 percent to 70 piasters, the lowest level in more than a month. The Cairo-based developer and operator of resorts and restaurants said it will propose no dividend payment for 2011 “to support the financial position of the company.”
GB Auto (AUTO) fell 2 percent to 21.12 Egyptian pounds, the lowest level in more than two months. The board of directors of the Middle East’s biggest car assembler recommended selling 323,940 treasury shares.
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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