Bloomberg News

Egyptian Stocks: Arab Cotton Ginning and Telecom Egypt

October 27, 2011

Oct. 27 (Bloomberg) -- Egypt’s benchmark EGX 30 Index gained for the sixth time in seven days, climbing 0.5 percent to 4,339.78 at the 2:30 p.m. close in Cairo.

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

Arab Cotton Ginning (ACGC EY) advanced for the first time in four days, increasing 1.3 percent to 3.12 Egyptian pounds. The Cairo-based cotton company will pay a 20-piaster dividend on Nov. 2 for shareholders as of Oct. 30.

Telecom Egypt (ETEL EY) retreated as much as 1.2 percent, before closing 0.5 percent lower at 14.9 pounds. A strike at the Arab country’s monopoly fixed-line phone operator has continued for almost two weeks despite the company’s announcement it would give its employees a bonus before an Egyptian public holiday, Al Alam Al Youm reported.

--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


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus