Egyptian Stocks: EFG-Hermes, El Sewedy Electric, Amer Group
Egypt’s benchmark EGX 30 Index (EGX30), gained for the eight time in nine days, adding 0.7 percent to 4,949.57 at the 2:30 p.m. close in Cairo. That brought the gauge’s advance to 5.1 percent this week.
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Amer Group Holding (AMER) rose for the third time in four days, gaining 1.4 percent to 71 piasters. Shareholders of the resorts and restaurants developer and operator approved reducing the company’s capital by eliminating 14 million treasury shares.
EFG-Hermes Holding SAE (HRHO) gained 1.8 percent to 11.49 Egyptian pounds, the highest level in seven weeks. The stock rose a second day after HSBC Holdings Plc (HSBA)’s Middle East unit bought more than 5 percent of the biggest publicly traded Arab investment bank from Dubai Financial Group.
El Sewedy Electric Co. (SWDY EY) increased 1.1 percent to 24.58 pounds, the highest level since March 15. Shareholders on record today are eligible for a 1-pound dividend per share on July 10.
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