Bloomberg News

Egyptian Stocks: Commercial International, El Sewedy Electric

December 01, 2011

Dec. 1 (Bloomberg) -- Egypt’s benchmark EGX 30 Index advanced for a fifth day, gaining 1.7 percent to 4,087.89 at the 2:30 p.m. close in Cairo. That brought the measure’s increase this week to 8.1 percent, the best week since March.

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

Commercial International Bank Egypt SAE (COMI EY) climbed 3.7 percent to 24.12 Egyptian pounds, the highest level in more than two weeks. Hisham Ramez, a former Egyptian central bank deputy governor, will join the country’s biggest publicly traded lender as vice chairman and managing director.

El Sewedy Electric Co. (SWDY EY) declined for the first time in five days, retreating as much as 0.9 percent before closing 0.5 percent lower at 21.6 pounds. Egypt’s biggest publicly traded producer of electric cables said its nine-month profit declined 24 percent from a year earlier to 528.3 million pounds ($88 million).

--Editors: Claudia Maedler, Ana Monteiro

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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