Bloomberg News

Egyptian Stocks: Amer Group and Orascom Construction Industries

January 04, 2012

Jan. 4 (Bloomberg) -- Egypt’s benchmark EGX 30 Index was little changed at 3,654.79, the lowest level in almost a week, at the 2:30 p.m. close in Cairo.

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

Amer Group Holding (AMER EY), a Cairo-based developer and operator of resorts and restaurants, gained 1.8 percent to 56 piasters, its third increase in four days. Egypt posted $9 billion in revenue from tourism last year, with 10 million people visiting, Tourism Minister Mounir Fakhry Abdel Nour said yesterday in an interview.

Orascom Construction Industries (OCIC EY) declined 1.5 percent, the most in almost two weeks, to 203.23 Egyptian pounds. Egypt’s biggest publicly traded builder is seeking compensation for damages incurred when a power plant it is building was attacked by villagers and equipment set ablaze, Al Mal reported, citing Ali Hassan, chairman of the Cairo Electricity Production Co.

The company didn’t seek compensation from the Ministry of Electricity for damages at a power plant, Omar Darwazah, the company’s head of investor relations said today, denying the report.

--Editors: Shanthy Nambiar, 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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