Bloomberg News

Egyptian Stocks: Citadel Capital and Orascom Construction

June 10, 2012

Egypt’s benchmark EGX 30 Index (EGX30) fell 0.4 percent to 4,471.83, the lowest level in more than four months, at the 2:30 p.m. close in Cairo.

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

Citadel Capital SAE (CCAP) rose the most in more than two weeks, rallying 2.3 percent to 2.63 Egyptian pounds. The Cairo-based private equity firm said it signed a renewal agreement for a $2.6 billion loan to finance the design and construction of an oil refinery near Cairo.

Orascom Construction Industries (OCIC) declined as much as 2 percent to 244 pounds before closing at 248 pounds. The country’s biggest publicly traded builder is scheduled to report first-quarter results tomorrow. Net income may drop 38 percent to $126.6 million from a year earlier, according to the mean estimate of eight analysts compiled by Bloomberg.

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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