Egyptian Stocks: EFG-Hermes Holding and Orascom Telecom Media

Egypt’s benchmark EGX 30 Index (EGX30) retreated for the first time in eight days, declining 0.6 percent to 4,955.68 at 11:43 a.m. in Cairo.

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

EFG-Hermes Holding SAE (HRHO) gained 3.1 percent to 11.27 Egyptian pounds, set for the highest close since May 17. HSBC Holdings Plc (HSBA)’s Middle East unit bought more than 5 percent of the biggest publicly traded Arab investment bank from Dubai Financial Group LLC.

Orascom Telecom Media & Technology Holding SAE (OTMT EY) jumped as much as 9.8 percent, the most in more than a week, to 1.68 pounds before trading at 1.54 pounds. The Cairo-based company’s unit Telecel Zimbabwe Ltd. appointed Francis Mawindi as chief executive officer, replacing John Swain.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.