Bloomberg News

Egyptian Stocks: Delta Sugar and Egyptian Resorts Were Active

January 03, 2012

Jan. 3 (Bloomberg) -- Egypt’s benchmark EGX 30 Index fell for the first time in three days, retreating 0.7 percent to 3,655.58 at the 2:30 p.m. close in Cairo.

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

Delta Sugar Co. (SUGR EY) advanced for the first time since Dec. 25, gaining 0.6 percent to 16.82 Egyptian pounds. Pharos Holdings raised its share-price estimate on the country’s biggest publicly traded sugar refiner to 18.3 pounds from 15.7 pounds. The stock recommendation was maintained at “hold.”

Egyptian Resorts Co. (EGTS EY) climbed 1.2 percent to 87 piasters, the highest level in two weeks. The Red Sea resorts developer plans to announce a new project in the first half and will start construction on its $210 million Sawari resort in the second half.

--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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