Egyptian Stocks: Orascom Construction, Abou Kir and Al Arafa

Egypt’s benchmark EGX 30 Index (EGX30) rose 0.5 percent to 4,945.21 at the 2:30 p.m. close in Cairo, the highest level in a week. The gauge declined for a second month, falling 1.5 percent in April.

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

Abou Kir Fertilizers & Chemical Industries Co. (ABUK) climbed 1.7 percent, the most in more than three months, to 129.06 Egyptian pounds. Egypt’s largest publicly traded fertilizers producer said nine-month profit was little changed from the year-earlier period at 1 billion pounds ($165 million).

Al Arafa Investment & Consulting (AIVC) increased 3 percent to 34 cents, the highest level in almost two weeks. Egypt’s biggest publicly traded garment exporter said its board approved distributing one free share for every two held.

Orascom Construction Industries (OCIC) advanced 1.9 percent to 265.96 pounds, the highest level since March 12. Egypt’s biggest publicly traded builder received the approval of the country’s market regulator to hold a shareholder meeting on May 17 to vote on splitting the company in two.

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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