Egyptian Stocks: Talaat Moustafa Group and El Sewedy Electric
Egypt’s benchmark EGX30 Index (EGX30) soared the most in more than four years, gaining 7.6 percent to 4,482.48 at the 2:30 p.m. close in Cairo. That narrowed the gauge’s loss this quarter to 11 percent.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
El Sewedy Electric Co. (SWDY) jumped 7.2 percent, the most in almost seven months, to 24.02 Egyptian pounds. The country’s biggest publicly traded manufacturer of electric cables will pay a 1 pound dividend on July 10 for shareholders as of July 5.
Talaat Moustafa Group Holding (TMGH) , Egypt’s biggest publicly traded real-estate developer, surged 9.6 percent, the most in more than two years, to 4.11 pounds. The country’s appeals court will on July 30 examine its appeal of a six-month sentence against Chairman and Managing Director Tarek Moustafa for the alleged sale of a property unit to more than one client.
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