Egyptian Stocks: Orascom Development and Arab Cotton Ginning

Egypt’s benchmark EGX30 Index (EGX30) advanced for the first time in four days, gaining less than 0.1 percent to 4,685.79 at the 2:30 p.m. close in Cairo.

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

Arab Cotton Ginning (ACGC) declined 1.7 percent to 2.38 Egyptian pounds, the lowest close in more than four months. The Cairo-based company reported a nine-month loss of 10.1 million Egyptian pounds ($1.7 million) after a 73.9 million-pound profit in the year-earlier period.

Orascom Development Holding AG (ODHN) climbed 1.9 percent, the most in a week, to 4.9 pounds. The resorts developer said first-quarter revenue rose to 63.5 million Swiss francs ($66 million) from 52.9 million francs a year earlier. The company also appointed Ahmed El-Shamy as its chief financial officer.

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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