Bloomberg News

Egyptian Stocks: Telecom Egypt and Alexandria Portland Cement

January 02, 2012

Jan. 2 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose 1.6 percent to 3,679.96 at the 2:30 p.m. close in Cairo, the highest level in more than a week. The measure slumped 49 percent in 2011, making it the third-worst performing index tracked by Bloomberg globally.

The following were among active equities on the Egyptian Stock Exchange today. Stock symbols follow company names.

Alexandria Portland Cement Co. (ALEX EY) declined 3.2 percent, the most in more than three months, to 11.98 Egyptian pounds. The Egyptian unit of Titan Cement Co., said “armed protesters” attacked its factory in Alexandria and set its administrative building on fire.

Telecom Egypt Co. (ETEL EY) advanced as much as 1.7 percent before closing 0.5 percent higher at 13.28 pounds, the highest since Dec. 19. The company, which has a monopoly on fixed-line telephone services in Egypt, said its senior vice president and chief commercial officer, Emad Alazhary, resigned effective Jan. 31.

--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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