Bloomberg News

Egyptian Stocks: OCI, Talaat Moustafa, Mobinil, Citadel Capital

October 25, 2011

Oct. 25 (Bloomberg) -- Egypt’s benchmark EGX 30 Index advanced 0.8 percent to 4,347.32, the highest level in more than a month, at the 2:30 p.m. close in Cairo.

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

Citadel Capital SAE (CCAP EY) retreated 2.1 percent to 3.3 Egyptian pounds, the lowest level in a week. The private equity firm said its first-half loss more than doubled to 291.8 million pounds ($49 million).

Egyptian Co. for Mobile Services (EMOB EY) gained 1.3 percent, the most in almost two weeks, to 96.66 pounds. The Arab country’s second-biggest mobile phone company by subscribers is scheduled to report third-quarter results after market close today.

Orascom Construction Industries (OCIC EY) climbed 2.2 percent to 233.76 pounds, the highest level since Sept. 21. The country’s biggest publicly traded builder and Rio de Janeiro- based EBX said in a joint statement yesterday they plan to form a fertilizer partnership in Brazil.

Talaat Moustafa Group Holding (TMGH EY) lost 1.6 percent, the most in more than two weeks, to 3.63 pounds. Egypt’s Administrative Court said today it will rule Nov. 22 on whether the country’s biggest publicly traded real-estate developer will be allowed to keep a 33-million-square-meter plot on the outskirts of Cairo.

--Editors: Claudia Maedler, Alex Nicholson

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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