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Egyptian Stocks: Raya Holding, Talaat Moustafa Group Are Active

July 12 (Bloomberg) -- Egypt’s benchmark EGX 30 Index gained for a third day, advancing 0.4 percent to 4,814.84 at the 2:30 p.m. close in Cairo. That narrowed the gauge’s drop this week to 2.7 percent.

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

Egyptian Resorts Co. (EGTS EY), a Red Sea resorts developer, gained for a third day, climbing 1.9 percent to 1.09 Egyptian pounds. The number of tourists visiting Egypt rose to 849,521 in June, up 16 percent from the same month last year, the Tourism Ministry said.

Talaat Moustafa Group Holding (TMGH EY) dropped for a fifth day, the longest losing streak in almost two months, declining as much as 3.3 percent to 3.84 pounds before closing at 3.95 pounds. A panel of judges recommended earlier this week the annulment of a revised contract that allowed Egypt’s largest publicly traded real estate developer to buy its biggest land asset from the government.

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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