Egyptian Stocks: Orascom Construction Industries and EFG-Hermes

Egypt’s benchmark EGX30 Index (EGX30) declined 1.1 percent to 4,908.43 at the 2:30 p.m. close in Cairo, the lowest level since Feb. 12.

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

EFG-Hermes Holding SAE (HRHO) climbed the most in three weeks, gaining 5 percent to 13.43 Egyptian pounds. The biggest publicly traded Arab investment bank is in talks with Qatar’s QInvest LLC to form an investment bank that would cover the Middle East, Africa, Turkey, southern Asia and southeast Asia.

Orascom Construction Industries (OCIC) fell 1.2 percent to 250.46 pounds, the lowest level since Feb. 7. Egypt’s biggest publicly traded builder is due to report its fourth-quarter results tomorrow.

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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