Bloomberg News

Egyptian Stocks: Ezz Steel, National Co. for Maize Products

December 06, 2011

Dec. 6 (Bloomberg) -- Egypt’s benchmark EGX 30 Index advanced for the first time in three days, increasing 0.1 percent to 4,024.43 at the 2:30 p.m. close in Cairo.

The following stocks were active. Symbols are in parentheses.

Ezz Steel (ESRS EY) rose for the first time in three days, gaining 1.2 percent to 5.02 Egyptian pounds. Egypt’s biggest publicly traded producer of the metal has kept its price at 4,500 pounds ($750) per ton of steel rebar this month after cutting it by 6.3 percent in November, Al Alam Al Youm reported, citing distributors.

National Co. for Maize Products (NCMP EY), a producer of sweeteners from corn, increased 1.2 percent to 15.47 pounds. Corn fell to a two-month low in Chicago, with March-delivery contracts retreating 1.3 percent to $5.8325 a bushel at 10:31 a.m. London time. The grain touched $5.80, the lowest price since Oct. 4.

--Editors: Shanthy Nambiar, James Kraus

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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