Egyptian Stocks: Amer Group, Maridive and South Valley Cement

Egypt’s benchmark EGX 30 Index (EGX30) rose for a fourth day, gaining 1 percent to 4,867.75 at the 2:30 p.m. close in Cairo. The measure has increased 1.1 percent this week.

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

Amer Group Holding (AMER) rose for the first time in six days, gaining 1.6 percent to 65 piasters. The developer and operator of resorts and restaurants opened the first phase of its Porto Matrouh project, near the Mediterranean city of Marsa Matrouh, Al Alam Al Youm reported.

Maridive & Oil Services SAE (MOIL) , an offshore support services company, increased 1.9 percent, the most in more than two weeks, to $1.09. Oil futures rose for a seventh day, climbing as much as 1.5 percent to $91.25 a barrel. That’s the highest intraday level since May.

South Valley Cement (SVCE) surged 8.4 percent, the most since March 2011, to 3.6 Egyptian pounds. The Cairo-based producer of the building material plans to buy back 24.2 million shares at 3.7 pounds each from today to July 25.

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.