Bloomberg News

Egyptian Stocks: El Sewedy Electric and Pachin Were Active

February 01, 2012

Feb. 1 (Bloomberg) -- Egypt’s benchmark EGX30 Index increased 0.9 percent to 4,688.29 at the 2:30 p.m. close in Cairo, the highest level in more than four months.

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

El Sewedy Electric Co. (SWDY EY) rose to the highest level in more than six months, gaining 0.8 percent to 26.01 Egyptian pounds. Egypt’s biggest publicly traded manufacturer of electric cables said a workers’ strike over wages at its factories on the outskirts of Cairo won’t affect business in the near-term and that it is “optimistic” about resolving the dispute.

Paints & Chemical Industries Co. (PACH EY) dropped 3.5 percent, the most in more than two months, to 32.52 pounds. The nation’s biggest publicly traded paints producer, also known as Pachin, said its six-month profit declined 41 percent to 55.3 million pounds ($9.2 million).

--Editors: Shanthy Nambiar, 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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