Bloomberg News

Egyptian Stocks: Beltone Financial Holding and El Nasr Clothes

December 28, 2011

Dec. 28 (Bloomberg) -- Egypt’s benchmark EGX 30 Index fell 0.9 percent to 3,586.55 at the 2:30 p.m. close in Cairo, the lowest level since March 2009. The measure has lost 50 percent this year, the third-worst performer among the world’s stock markets tracked by Bloomberg.

The following stocks were active in Cairo. Symbols are in parentheses.

Beltone Financial Holding (BTFH EY) rose to the highest in more than a month, gaining 5 percent to 13.51 Egyptian pounds. The Cairo-based investment bank said its chairman and chief executive officer Aladdin Saba will hold talks to sell his stake in the company next week.

El Nasr Clothes & Textiles (KABO EY) dropped 3.5 percent to 56 piasters, the lowest since Nov. 22. The clothing manufacturer said its board of directors recommended studying a partial shutdown of operations amid increasing wages and declining sales because of unrest in the country.

--Editors: Susan Lerner, Daliah Merzaban

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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