Egyptian Stocks: Talaat Moustafa Group and South Valley Cement
The following shares were active on the Egyptian Exchange. Stock symbols follow company name.
Talaat Moustafa Group Holding (TMGH) declined as much as 1.8 percent to 3.92 Egyptian pounds, before closing at 3.98 pounds. The shares fell for a third day after a panel of judges recommended 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.
South Valley Cement (SVCE) climbed the most this month, gaining 2.8 percent to 3.32 pounds. The Cairo-based producer of the building material said it intends to complete its 24.3 million-share buy-back program and asked its managing director to determine a new price. The company bought about 168,000 shares at 3.5 pounds a piece, it said.
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