Egyptian Stocks: EFG-Hermes Holding and South Valley Cement

Egypt’s benchmark EGX 30 Index (EGX30) rose 1.8 percent, the most in more than a week, to 4,794.45 at the 2:30 p.m. close in Cairo.

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

EFG-Hermes Holding SAE (HRHO) advanced for a second day, increasing 1.1 percent to 10.98 Egyptian pounds. The Bank of New York Mellon Corp. in the second quarter increased its stake in the biggest publicly traded Arab investment bank to 8.2 percent from 7.9 percent.

South Valley Cement (SVCE) gained 2.1 percent to 3.39 pounds. The shares rose for a second day after the Cairo-based producer of the building material said it intends to complete a 24.3 million-share buy-back program and asked its managing director to determine a new price. The company bought about 168,000 shares at 3.5 pounds each, it said yesterday.

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

Press spacebar to pause and continue. Press esc to stop.

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.