Bloomberg News

Egypt Stock Movers: Citadel Capital and Palm Hills Developments

March 12, 2012

Egypt’s benchmark EGX30 Index (EGX30) fell 1.5 percent to 5,223.21 at the 2:30 p.m. close in Cairo, the lowest level in two weeks.

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

Citadel Capital SAE (CCAP) (CCAP EY) declined 3.6 percent to 3.45 Egyptian pounds, the lowest close in almost a month. The Cairo- based private equity firm is in the process of starting an insurance brokerage.

Palm Hills Developments SAE (PHDC) slumped 5.6 percent, the most in four months, to 2.03 pounds. The luxury real-estate developer reported a 2011 loss of 331.3 million pounds ($55 million) compared with a 526.4 million-pound profit a year earlier.

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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