Bloomberg News

Egyptian Stocks: Commercial International Bank, Telecom Egypt

May 10, 2012

Egypt’s benchmark EGX30 Index (EGX30) fell for a second day, losing 0.3 percent to 5,014.91 at the 2:30 p.m. close in Cairo. That pared the gauge’s gain to 1.7 percent this week.

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

Commercial International Bank Egypt SAE (COMI) increased as much as 1 percent to 26.25 Egyptian pounds before closing at 26.06 pounds. First-quarter profit for the country’s largest publicly traded lender climbed 64 percent to 505 million pounds ($84 million) from a year earlier. That beat the 460 million- pound median estimate of three analysts compiled by Bloomberg.

Telecom Egypt (ETEL) declined 1.5 percent, the most this month, to 12.81 pounds. The country’s monopoly fixed-line phone company is due to report first-quarter results on May 14. The company will report a 654 million-pound profit, according to the average of two analyst estimates compiled by Bloomberg. That compares with 891.5 million pounds a year-earlier, according to Bloomberg data.

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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