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Egyptian Stocks: Arab Cotton Ginning, Canal Shipping Agencies

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Dec. 4 (Bloomberg) -- Egypt’s benchmark EGX 30 Index fell 0.4 percent, snapping a five-day streak, to 4,073.21 at the 2:30 p.m. close in Cairo.

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

Arab Cotton Ginning (ACGC EY) declined 1.5 percent, the biggest drop in more than a week, to 2.59 Egyptian pounds. The country’s cotton exports declined 51 percent to 760 metric tons in the week ended Dec. 1 from the previous week, the Alexandria Cotton Exporters Association said today.

Canal Shipping Agencies (CSAG EY) fell as much as 3.6 percent before closing 0.9 percent lower at 6.55 pounds. The number of vessels passing the Suez Canal dropped 27 percent to 47 ships today from yesterday, according to the Suez Canal Authority.

To contact the reporter on this story: Mahmoud Kassem in Cairo at mkassem1@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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