Bloomberg News

Egyptian Stocks: Orascom Construction, Talaat Moustafa Group

October 04, 2011

Oct. 4 (Bloomberg) -- Egypt’s benchmark EGX 30 Index declined to the lowest since March 2009, dropping 1.3 percent to 4,025.72 as of the 2:30 p.m. close in Cairo.

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

Orascom Construction Industries (OCIC EY) fell to its lowest close since July 20, declining 0.9 percent to 202.96 Egyptian pounds. The biggest publicly traded builder in Egypt said its fertilizer units have secured about $1.9 billion in credit facilities.

Talaat Moustafa Group Holding (TMGH EY) lost the most in more than two weeks, tumbling 4 percent to 3.6 pounds. An Egyptian court delayed its ruling on a case against the government’s sale of land to the real-estate developer until Oct. 25.

-- Editors: Claudia Maedler, Susan Lerner

To contact the reporter on this story: Mahmoud Kassem in Cairo at mkassem1@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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