Bloomberg News

Egypt Stocks: National Co. for Maize Products, Orascom Telecom

July 22, 2012

Egypt’s benchmark EGX30 Index (EGX30) was little changed at 4,868.05 at the close in Cairo. The index gained 1.1 percent last week.

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

National Co. for Maize Products (NCMP EY), which makes sweeteners from imported corn, advanced 0.2 percent to 13.56 Egyptian pounds, after rising 1.4 percent last week. The company said first-half profit rose to 42 million pounds ($6.9 million) from 31 million pounds a year earlier.

Orascom Telecom Media & Technology Holding SAE (OTMT) , an Egyptian telecommunications company, rallied 9.3 percent, the most since June 12, to 0.47 pound. The stock adjusted for dividend last week. “Volumes in the name seem to be dominated by local retail who think it is an attractive play at current levels,” said Wafik Dawood, director of institutional sales at Cairo-based Mega Investments Securities.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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