Egyptian Stocks: Orascom Telecom Media and Oriental Weavers

Egypt’s benchmark EGX30 Index fell for the third time in four days, declining 0.6 percent to 4,421.38 at the 2:30 p.m. close in Cairo.

The following shares were active on the Egyptian Exchange. Stock symbols follow company names.

Orascom Telecom Media & Technology Holding SAE (OTMT EY) climbed 4.7 percent to 1.35 Egyptian pounds, the highest level in almost three weeks. The stock surged a second day after the board recommended a dividend of 1.05 Egyptian pounds a share for the period ending June 7.

Oriental Weavers Co. (ORWE EY) gained as much as 1.2 percent to 16.1 pounds before closing at 15.94 pounds, the highest level in more than two weeks. The Arab country’s biggest carpets manufacturer plans to invest 200 million pounds ($33 million) on expansion projects this year including the second phase of a production facility starting in the fourth quarter, Al Borsa newspaper reported.

-- Editors: Robert Lakin, Tim Farrand

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