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Egyptian Stocks: EFG-Hermes Holding and Orascom Development

July 4 (Bloomberg) -- Egypt’s benchmark EGX 30 Index retreated for the first time in eight days, declining 1.4 percent to 4,914.94 at the 2:30 p.m. close in Cairo.

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

EFG-Hermes Holding SAE (HRHO EY) gained 3.3 percent to 11.29 Egyptian pounds, the highest level since May 17. HSBC Holdings Plc’s Middle East unit bought more than 5 percent of the biggest publicly traded Arab investment bank from Dubai Financial Group LLC.

Orascom Development Holding AG (ODHN EY) gained as much as 1.4 percent to 5 pounds before closing at 4.94 pounds, the highest level in almost six weeks. Residents of Tujetsch, Switzerland voted to allow the sale of local ski lifts to a unit of the real-estate developer, boosting its plan to build a luxury ski resort in Andermatt.

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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