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Egyptian Stocks: Ezz Steel and Juhayna Food Are Active

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Jan. 15 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose 1.7 percent to 3,840.05 at the 2:30 p.m. close in Cairo, the highest level in a month.

The following were among the most active equities on the Egyptian Stock Exchange today. Stock symbols follow company names.

Ezz Steel (ESRS EY) jumped 6.9 percent, the most in almost seven weeks, to 4.36 Egyptian pounds. The government agreed to return production licenses to Ezz Steel and three other producers of the metal in exchange for fees totaling 1.47 billion pounds ($240 million), Al Shorouk newspaper reported. The licenses had earlier been revoked by a court order.

Juhayna Food Industries (JUFO EY) fell 1.1 percent to 3.78 pounds, the lowest level in almost two months. Egypt’s market regulator approved a proposal by the country’s biggest packaged-milk producer to reduce its capital by 20.4 million pounds to 706.1 million pounds.

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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