Bloomberg News

Egyptian Stocks: Delta Sugar and Egyptian Gulf Bank Were Active

November 13, 2011

Nov. 13 (Bloomberg) -- Egypt’s benchmark EGX 30 Index dropped the most in more than a month, retreating 1.9 percent to 4,298.73 at the 2:30 p.m. close in Cairo.

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

Delta Sugar Co. (SUGR EY), Egypt’s biggest publicly traded sugar refiner, retreated as much as 2.8 percent before closing 0.6 percent lower at 20.25 pounds. State-run Sugar & Integrated Industries Co. delayed a tender for 50,000 to 80,000 metric tons of raw sugar until Nov. 20 because of high prices, Hussein Ahmed, a purchasing manager at the company, said today.

Egyptian Gulf Bank (EGBE EY) lost 3.5 percent, the most in almost two months, to $1.65. The Cairo-based lender said its nine-month profit dropped by more than a third to 48.3 million pounds ($8.1 million) from a year earlier.

--Editors: Susan Lerner, Shanthy Nambiar

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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