Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Egyptian Stocks: CIB, Talaat Moustafa and Orascom Telecom Media

July 17 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose to the highest level in more than a week, gaining 1.6 percent to 4,818.41 at the 2:30 p.m. close in Cairo.

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

Commercial International Bank Egypt SAE (COMI EY) increased 1.9 percent to 29.01 Egyptian pounds, the highest level since July 8. The country’s biggest publicly traded lender had its share-price estimate raised to 30 pounds from 29 pounds at Bank of America Merrill Lynch.

Orascom Telecom Media & Technology Holding SAE (OTMT EY) climbed 2.5 percent to 41 piasters, the biggest daily advance in more than two weeks. The post-dividend share price of the Cairo-based telecommunications company attracted retail investors that found it “cheap,” said Hassan Kenawi, equity trader HC Brokerage.

Talaat Moustafa Group Holding (TMGH EY) increased 3.1 percent, the most since July 2, to 4.01 pounds. Egypt’s biggest publicly traded real estate developer told investors its legal position in a land dispute is “strong.”

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.