Egypt Stocks: Arabia Investments, Medinet Nasr for Housing
January 18, 2012, 8:48 AM ESTBy Zahra Hankir
Jan. 18 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose to the highest in more than a month, gaining 0.7 percent to 3,904.09 at the 2:30 p.m. close in Cairo.
The following shares rose or fell. Symbols are in parentheses.
Arabia Investments & Development & Financial Investments Holding Co. (AIND EY) rose 1.8 percent to 0.56 piasters, the highest since Dec. 11. The Egyptian investment firm said it agreed yesterday to buy a stake of about 20 percent in Beltone Financial Holding (BTFH EY). Beltone shares climbed for the first time in four days, gaining 0.4 percent to 14.05 Egyptian pounds.
Medinet Nasr for Housing (MNHD EY) advanced to the highest in almost a month, gaining 2 percent to 11.53 Egyptian pounds. The developer of middle- and low-income homes said sales contracts increased in 2011 even as the country was roiled by political turmoil.
--Editors: Daliah Merzaban, Tim Farrand
To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
