Egypt Stocks: EFG-Hermes Holding and Palm Hills Are Active

Egypt’s benchmark EGX 30 Index (EGX30) gained 0.5 percent to 4,934.92 at the 2:30 p.m. close in Cairo, bringing its advance this week to 4.8 percent.

The following shares rose or fell. Symbols are in parentheses.

EFG-Hermes Holding SAE (HRHO) surged the most since November, jumping 9 percent to 14.01 Egyptian pounds. The bank said QInvest LLC, a unit of Qatar Islamic Bank (QIBK), may hold a majority stake in an investment bank the two companies are planning.

Palm Hills Developments SAE (PHDC) , a luxury real-estate developer, gained to the highest in more than a month, rising 5.1 percent to 1.86 pounds. Egypt has lifted an asset freeze order on Palm Hills shareholder Yasseen Mansour.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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