Bloomberg News

Egyptian Stocks: Talaat Moustafa, Maridive & Oil Services

October 12, 2011

Oct. 12 (Bloomberg) -- Egypt’s benchmark EGX 30 Index increased 0.8 percent to 4,050.23 at the 2:30 p.m. close in Cairo, the highest level in more than a week.

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

Maridive & Oil Services SAE (MOIL EY), a Cairo-based marine and oil support services provider, gained for the third time in four days, advancing 1.6 percent to $1.89. Crude oil for November delivery increased as much as 0.9 percent to $86.59 a barrel.

Talaat Moustafa Group Holding (TMGH EY) increased as much as 2.9 percent, before closing unchanged at 3.4 Egyptian pounds. Egypt’s biggest publicly traded real-estate developer was rated “buy” in new coverage at Beltone Financial with a share-price estimate of 5.2 pounds.

--Editors: Claudia Maedler, Tim Farrand

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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