Egypt’s benchmark EGX30 Index retreated for the first time in three days, losing 1 percent to 5,218.44 at the 2:30 p.m. close in Cairo.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Credit Agricole Egypt (CIEB EY) declined 1.6 percent, the most in almost a week, to 9.34 Egyptian pounds. The Cairo-based lender was reduced to “underweight” from “buy” and had its 12-month share-price estimate set at 10 pounds at CI Capital Holding. The shares were also cut to “add” from “buy” and assigned a price estimate of 11.48 pounds at Beltone Financial.
Delta Sugar (SUGR EY) gained as much as 1.1 percent to 18.03 pounds before closing at 17.97 pounds, the highest level in more than a week. Egypt’s biggest publicly traded sugar refiner said 2011 profit rose 11 percent to 391.8 million pounds ($65 million) from a year earlier.
EFG-Hermes Holding SAE (HRHO EY) increased 1.1 percent to 14.3 pounds, the highest level in more than six months. The biggest publicly traded Arab investment bank said it started offering an equity-swap product linked to Iraqi securities.