Bloomberg News

Egyptian Stocks: Talaat Moustafa Group, Maridive & Oil Services

November 23, 2011

Nov. 23 (Bloomberg) -- Egypt’s benchmark EGX 30 Index gained for the first time in 11 days, increasing 1 percent to 3,713.5 at 1:58 p.m. in Cairo. That pared the gauge’s decline to 10 percent this week.

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

Maridive & Oil Services SAE (MOIL EY), an Egyptian marine and oil support services provider, lost 4 percent to $1.45, heading for the lowest close in three years. Oil dropped from a three-day high, with crude for January delivery on the New York Mercantile Exchange falling as much as $2.25 to $95.76 a barrel.

Talaat Moustafa Group Holding (TMGH EY) jumped 5.4 percent to 3.34 Egyptian pounds, heading for the biggest daily gain in more than two months. Egypt’s largest publicly traded real- estate developer said it will appeal a court-ordered revaluation of the undeveloped portion of its Madinaty project.

--Editors: Shaji Mathew, Susan Lerner

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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