Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Egyptian Stocks: Nile Cotton Ginning and Citadel Capital

Egypt’s benchmark EGX 30 Index declined to the lowest in almost three months, losing 2.1 percent to 4,967.04 at the 1:30 p.m. close in Cairo.

The following shares rose or fell. Symbols are in parentheses.

Citadel Capital SAE (CCAP EY) retreated 2.7 percent to 4.75 Egyptian pounds, the lowest level since May 16. Investors may be concerned near-term gains in the stock price of the Cairo-based private equity firm will be limited, said Ryan Ayache, a Dubai-based banking analyst at Deutsche Bank AG.

“Operationally, a lot of their investments are doing well, but it doesn’t mean investors will make good returns on the stock right now,” Ayache said. Also, “There may have been some hot money in the stock hoping to benefit from a transaction with Abraaj Capital.” Talks for a Citadel stake sale to Abraaj broke down last week.

Nile Cotton Ginning Co. (NCGC EY) surged 4.9 percent, the most in almost two months, to 11.63 pounds. National Bank of Egypt lowered the interest rate it charges textile manufacturers to 11 percent for projects that start in the next 18 months, Al Mal newspaper reported today.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.