Bloomberg News

Egyptian Stocks: Maridive & Oil Services and Talaat Moustafa

October 03, 2011

Oct. 3 (Bloomberg) -- Egypt’s benchmark EGX 30 Index tumbled 2.8 percent to 4,076.92 at the 2:30 p.m. close in Cairo, the lowest level since March 2009.

The following shares rose or fell. Symbols are in parentheses.

Maridive & Oil Services SAE (MOIL EY), a Cairo-based provider of marine and oil support-services, lost 2.1 percent, the biggest drop since Sept. 28, to $1.88. Crude for November delivery declined as much as 3 percent to $76.85 a barrel today after closing at a one-year low last week.

Talaat Moustafa Group Holding (TMGH EY), Egypt’s biggest publicly traded real-estate developer, fell for the first time in three days, retreating 0.8 percent to 3.75 Egyptian pounds. A Cairo court is scheduled to rule tomorrow on whether the company will keep its biggest land asset, a 33 million-square-meter land plot on the outskirts of Cairo.

--Editors: Shanthy Nambiar, Peter Branton

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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