Bloomberg News

Egyptian Stocks: Telecom Egypt, Orascom Telecom and Juhayna

October 13, 2011

Oct. 13 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose 2.5 percent to 4,152.29 at the 2:30 p.m. close in Cairo, the biggest daily gain in more than two months. That brought the measures advance to 5.1 percent.

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

Juhayna Food Industries (JUFO EY) jumped 4.8 percent, the most in six months, to 4.82 Egyptian pounds. Egypt’s biggest producer of packaged milk filed further documents with the country’s antitrust commission in response to allegations that it doesn’t pay farmers a fair price for milk, Al Alam Al Youm reported.

Orascom Telecom Holding SAE (ORTE EY) increased 1.6 percent to 3.22 pounds, the highest level since Oct. 9. North Africa’s biggest mobile-network operator plans to complete a split into two companies by the end of the year, Chairman Khaled Bichara said.

Telecom Egypt (ETEL EY), Egypt’s fixed-line phone monopoly, rose 2.6 percent to 14.87 pounds, the highest level in more than two weeks. Vodafone Egypt, the country’s biggest mobile-network operator that is 45 percent-owned by Telecom Egypt, added more than 116,000 subscribers in July, according to data posted on the Ministry of Telecommunications and Information Technology website.

--Editor: Shaji Mathew

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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