Bloomberg News

Egyptian Stocks: National Co. for Maize Products, Sinai Cement

April 09, 2012

Egypt’s benchmark EGX30 Index (EGX30) dropped 2.7 percent, the most in more than two weeks, to 4,593.52 at the 2:30 p.m. close in Cairo.

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

National Co. for Maize Products (NCMP EY), which makes sweeteners from imported corn, fell as much as 1.4 percent to 13.3 Egyptian pounds before closing at 13.47 pounds, the lowest level since January. Corn futures for May rose for the fifth time in seven days, gaining as much as 0.9 percent to $6.6425 a bushel on the Chicago Board of Trade.

Sinai Cement (SCEM) fell 1.8 percent to 29.84 pounds, the lowest level since Jan. 23. The Cairo-based producer of the building material was cut to sell from buy with a share-price estimate of 25.35 pounds at Okaz Brokerage.

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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