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Egyptian Stocks: Orascom Telecom Holding, Al Baraka Bank Egypt

Egypt’s benchmark EGX30 Index (EGX30) declined a second day, retreating 0.1 percent to 4,672.55 at the 2:30 p.m. close in Cairo.

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

Al Baraka Bank Egypt ESC (SAUD) gained 1 percent, the most since April 11, to 8.72 Egyptian pounds. Egypt is considering the possible sale of Islamic bonds in the medium- to long-term, Finance Minister Momtaz El-Saieed said.

Orascom Telecom Holdings SAE (ORTE) rose as much as 1.7 percent to 3.52 pounds before closing at 3.48 pounds, the highest level in two weeks. Weather Investments II SARL, which holds a 52 percent stake in the Cairo-based company, said it notified Algeria’s government of an investment dispute on its local unit Djezzy, triggering a six-month dispute resolution period. If no resolution is reached, Weather said it will file for international arbitration.

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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