Egyptian Stocks: Ezz Steel, Lecico and Misr Beni Suef Cement

Egypt’s benchmark EGX30 Index (EGX30) advanced 0.6 percent to 5,056.09 at the 2:30 p.m. close in Cairo, the highest level in more than a month.

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

Ezz Steel (ESRS) increased as much as 1.7 percent to 7.37 Egyptian pounds before closing at 7.31 pounds, the highest level in more than a week. Egypt’s biggest steel manufacturer will pay shareholders as of today a 25-piaster dividend on May 13.

Lecico Egypt SAE (LCSW) climbed 2.1 percent, the most in more than two weeks, to 4.95 pounds. First-quarter profit for the producer of sanitary ware and tiles rose 2 percent to 12.7 million pounds ($2.1 million). Revenue climbed 33 percent.

Misr Beni Suef Cement Co. (MBSC) advanced 0.8 percent to 52.48 pounds, the highest level this month. Shareholders of the Cairo-based producer of the building material approved a dividend distribution of 5 Egyptian pounds a share.

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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