Bloomberg News

Egyptian Stocks: Eipico, Pioneers Holding, Six of October

November 30, 2011

Nov. 30 (Bloomberg) -- Egypt’s benchmark EGX 30 Index increased for a fourth day, gaining 0.8 percent to 4,020.14 at the 2:30 p.m. close in Cairo. The gauge lost 9.7 percent this month.

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

Egyptian International Pharmaceutical Industries Co. (PHAR EY) climbed 4.1 percent, the most since Oct. 9, to 33 Egyptian pounds. Cairo-based CI Capital raised the country’s biggest publicly traded drug company, also known as Eipico, to “buy” from “hold.”

Pioneers Holding (PIOH EY) jumped 4.5 percent to 2.54 pounds, the highest since Nov. 20. The Egyptian investment bank said nine-month profit more than tripled to 72.9 million pounds ($12 million).

Six of October Development & Investment Co. (OCDI EY) declined for the first time in four days, dropping 1.6 percent, to 11.47 pounds. The Cairo-based luxury real-estate developer reported a third-quarter loss of 38 million pounds after a year- earlier profit of 56.8 million pounds due to an impairment on the golf course at its Alegria residential project.

--Editors: Susan Lerner, 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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