Bloomberg News

Egyptian Stocks: Commercial International Bank and El Sewedy

November 16, 2011

Nov. 16 (Bloomberg) -- Egypt’s benchmark EGX 30 Index retreated 0.2 percent to 4,170.7 at the 2:30 p.m. close in Cairo, the lowest level in more than a month.

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

Commercial International Bank Egypt SAE (COMI EY) lost 2.2 percent to 24.39 Egyptian pounds, the lowest level in almost a month. The North African country’s biggest publicly traded lender said third-quarter net income dropped 20 percent.

El Sewedy Electric Co. (SWDY EY) climbed 3.1 percent, the most since Sept. 5, to 20.25 pounds. Egypt’s biggest producer of electric cables was added to the Arab country’s MSCI Index with the change set to be implemented after market close on Nov. 30.

--Editors: Shaji Mathew, Claudia Maedler

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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