Egyptian Stocks: EFG-Hermes Holding and Arab Cotton Ginning
Egypt’s benchmark EGX30 Index (EGX30) declined 0.4 percent to 4,609.48 at the close in Cairo, the lowest level since April 10.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Arab Cotton Ginning (ACGC) lost 1.7 percent to 2.26 Egyptian pounds, the lowest level in more than four months. The retreat is the fourth in as many days after the Cairo-based company reported a nine-month loss of 10.1 million pounds ($1.7 million), after a 73.9 million-pound profit a year earlier.
EFG-Hermes Holding SAE (HRHO) fell 1.2 percent, the most in a week, to 10.88 pounds. The Cairo-based company is taking legal measures to protect shareholders after Planet IB Ltd. announced the intention to buy the biggest publicly traded Arab investment bank.
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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