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Egypt Stocks: El Nasr Clothes & Textiles and National Societe

Sept. 13 (Bloomberg) -- Egypt’s benchmark EGX 30 Index declined for a third day, losing 1.6 percent to 4,538.58 at the 2:30 p.m. close in Cairo. That’s the lowest level in more than a month.

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

El Nasr Clothes & Textiles (KABO EY), an Egyptian clothing manufacturer and biggest shareholder of Alexandria Spinning & Weaving, advanced as much as 1.3 percent before closing unchanged at 80 piasters. Egypt’s Ministry of Trade and Industry may levy customs duties on textile imports after receiving a complaint from the state-owned Holding Co. for Spinning & Weaving, Al Mal reported.

National Societe Generale Bank (NSGB EY) retreated 3.3 percent, the most in more than three weeks, to 28.8 pounds. Societe Generale SA, the parent company of the Cairo-based lender, plans to cut jobs at three of its units including the one in Egypt.

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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