Bloomberg News

Egyptian Stocks: Maridive & Oil Services and Raya Holding

December 29, 2011

Dec. 29 (Bloomberg) -- Egypt’s benchmark EGX 30 Index advanced for the first time in four days, gaining 1 percent to 3,622.35 at the 2:30 p.m. close in Cairo. The measure slumped 49 percent in 2011, making it the third-worst performing index among the 91 world stock markets tracked by Bloomberg.

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

Maridive & Oil Services SAE (MOIL EY) gained 1.4 percent to $1.41, the first advance in four days. The Egyptian marine and oil support services provider said it will receive an $18 million marine unit in January.

Raya Holding Co. (RAYA EY) gained as much as 2.9 percent before closing 0.6 percent higher at 3.48 pounds. The Cairo- based information technology company said it will pay a 20 piaster cash dividend on Jan. 19 to investors who held shares as of Jan. 16.

--Editors: Daliah Merzaban, Shaji Mathew

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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