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Egypt Stocks: Arab Polvara Spinning & Weaving, EFIC, Ezz Steel

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Sept. 4 (Bloomberg) -- Egypt’s benchmark EGX 30 Index increased for the first time since Aug. 24, gaining 0.5 percent, to 4,661.42 at the 2:30 p.m. close in Cairo.

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

Arab Polvara Spinning & Weaving Co. (APSW EY) declined 3.4 percent, the most since Aug. 21, to 2.26 Egyptian pounds. The Cairo-based textiles producer urged the government to intervene to ease pressure from cheaper imported products.

Egyptian Financial & Industrial Co. (EFIC EY), the North African country’s biggest publicly traded phosphate-based fertilizer producer, advanced 1.9 percent, the most since Aug. 17, to 12.51 pounds. Egyptian government officials will meet next week with representatives of companies in the metal, chemical and building material industries to discuss raising the price they pay for energy, Al Mal reported today.

Ezz Steel, Egypt’s biggest publicly traded producer of the metal, gained as much as 1.8 percent before closing 0.4 percent higher at 8.58 pounds, the highest level in almost a month.

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

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