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Egyptian Stocks: Alexandria Mineral Oils, Paints & Chemical

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Dec. 14 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose for the second day, adding 0.3 percent to 3,918.71 at the 2:30 p.m. close in Cairo.

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

Alexandria Mineral Oils (AMOC EY) jumped 4 percent, the most since Oct. 17, to 69.60 pounds. The producer of petroleum products may embark on a $680 million project to increase production of butane, naphtha and fuel for airplanes, Al Mal newspaper reported, citing unidentified people. The company said the report was “incorrect,” according to a regulatory filing after the market closed.

Paints & Chemical Industries Co. (PACH EY) jumped 3.7 percent, the most since Aug. 23, to 33.10 pounds. The biggest publicly traded paint producer plans to reopen its plant in Libya on Jan. 1.

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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