Bloomberg News

Egyptian Stocks: Amer Group and Egyptian Co. for Mobile Services

October 26, 2011

Oct. 26 (Bloomberg) -- Egypt’s benchmark EGX 30 Index declined for the first time in six days, retreating 0.6 percent to 4,319.73 at the 2:30 p.m. close in Cairo.

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

Amer Group Holding (AMER EY) jumped 6.5 percent, the most in more than four months, to 1.15 Egyptian pounds. The Cairo- based resorts and restaurants developer and operator set Nov. 14 as the date for a planned distribution of one free share for every two held. Stockholders as of Nov. 13 will be entitled to receive the shares.

Egyptian Co. for Mobile Services (EMOB EY) fell 1.7 percent, the most in three weeks, to 95.02 pounds. The Arab country’s second-biggest mobile phone company by subscribers said third-quarter profit plunged 97 percent to 9.7 million pounds ($1.6 million) because of a higher corporate tax rate.

--Editors: Susan Lerner, 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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