Bloomberg News

Egyptian Stocks: Maridive & Oil Services, Orascom Telecom

January 29, 2012

Jan. 29 (Bloomberg) -- Egypt’s benchmark EGX 30 Index climbed for a fifth day, gaining 2.3 percent to 4,535.18 at the 2:30 p.m. close in Cairo, the highest level in more than four months. The gauge has jumped 25 percent in January, making it the best-performing market among 91 tracked globally by Bloomberg.

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

Maridive & Oil Services SAE (MOIL EY) jumped 6.6 percent to $1.77, the highest level in more than two months. The Egyptian marine and oil support services provider got $234 million in contracts from a client in Brazil, who will rent five of its marine units for four years.

Orascom Telecom Holding SAE (ORTE EY) rose for a fifth day, gaining 6.9 percent to 3.59 Egyptian pounds. The Cairo-based mobile-phone company was added to Goldman Sachs Group Inc.’s Central Eastern Europe Middle East & Africa, also known as CEEMEA, Focus List with a “buy” recommendation.

--Editors: Claudia Maedler, Paul Jarvis

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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