Egyptian Stocks: Orascom Telecom Holding and El Sewedy Electric

Egypt’s benchmark EGX30 Index (EGX30) fell for the first time in four days, retreating 0.8 percent to 4,908.36 at the 2:30 p.m. close in Cairo. The market will close tomorrow for a public holiday.

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

El Sewedy Electric Co. (SWDY) climbed 3.7 percent, the most in almost two months, to 21.79 Egyptian pounds. Egypt’s biggest manufacturer of electric cables said it was among a group of companies that was awarded a contract in Libya as part of rebuilding the country’s electricity grid.

Orascom Telecom Holding SAE (ORTE) declined 4.4 percent, the most since April 8, to 3.48 pounds. North Africa’s biggest mobile phone company said the board won’t recommend a dividend because of its Algeria operations. The stock rose 14 percent in the two weeks through yesterday.

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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