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Egyptian Stocks: Abou Kir, Heliopolis Housing and Mobinil

Nov. 1 (Bloomberg) -- Egypt’s benchmark EGX 30 Index lost 1.4 percent, the most in more than three weeks, to 4,391.16 at the 2:30 p.m. close in Cairo.

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

Abou Kir Fertilizers & Chemical Industries Co. (ABUK EY) increased as much as 1.6 percent before closing 0.6 percent higher at 222.62 Egyptian pounds. The country’s biggest publicly traded fertilizers producer said first-quarter profit rose 13 percent to 346.4 million pounds ($58 million).

Egyptian Co. for Mobile Services (EMOB EY) lost 3.7 percent, the most in more than a month, to 100.28 pounds. Egypt’s second-biggest mobile network operator by subscribers was cut to “neutral” from “buy” at Cairo-based EFG-Hermes Holding SAE. The share price estimate was reduced to 108.8 pounds from 138.9 pounds.

Heliopolis Housing (HELI EY) declined as much as 1.4 percent before closing 0.8 percent lower at 13.53 pounds, the lowest level in almost a week. The Egyptian property developer will pay a 90 piaster dividend in two equal instalments to shareholders as of Nov. 17.

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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