Egyptian Stocks: Pioneers, Cairo Poultry, Ezz Aldekhela Steel

Egypt’s benchmark EGX30 Index (EGX30) rose for the first time this week, gaining 0.8 percent to 4,707.99 at the 2:30 p.m. close in Cairo. That trimmed the measure’s decline this week to 0.6 percent.

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

Cairo Poultry (POUL) slumped 3 percent to 8.03 Egyptian pounds, the lowest level since July 2009. The chicken producer said its first-quarter profit fell to 29 million pounds ($4.8 million) from 47.8 million pounds in the previous three months. The company didn’t provide a comparative figure for the year- earlier period.

El Ezz Aldekhela Steel (IRAX) rose 3.5 percent, the most in more than two months, to 517.88 pounds. The company majority owned by Ezz Steel (ESRS), Egypt’s biggest manufacturer of the metal, said it will pay a 40-pound dividend per share on May 6.

Pioneers Holding (PIOH) gained 2.4 percent, the most since April 11, to 3.43 pounds. The Cairo-based investment bank said 2011 profit surged more than fivefold from a year earlier to 114.7 million pounds.

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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