Egypt EGX 30 Index advanced 1.5 Pct
Written by Egypt News   
Tuesday, 17 May 2011
Egypt EGX 30 Index advanced 1.5 PctEgypt’s benchmark EGX 30 Index advanced 1.5 percent, the most since April 19, to 5,201.58 at 1:10 p.m. in Cairo.

The following shares rose or fell in Cairo:

Citadel Capital SAE climbed 6.3 percent to 4.87 Egyptian pounds, headed for the biggest increase since the shares were listed in December 2009.

Asec Co. for Mining, a unit of the private-equity firm, said it found evidence of the existence of gold near the surface in an area where it has exploration rights in Ethiopia.

GB Auto gained 4.6 percent, the most in two weeks, to 28.97 pounds. The Middle East’s biggest independent car maker was raised to “neutral” from “underperform” and had it price estimate set at 31.5 pounds at Credit Suisse Securities.

Orascom Telecom Holding SAE increased 2.7 percent to 4.25 pounds, poised for the biggest daily gain since April 13. The board of North Africa’s biggest mobile-network operator nominated Khaled Bichara to replace Naguib Sawiris as executive chairman.

Six of October Development & Investment Co surged 8.5 percent, the most since April 19, to 62.3 pounds. The Cairo-based luxury real-estate developer, also known as Sodic, was rated “buy” and had its price estimate set at 76 pounds in new coverage at Beltone Financial.

 

 

 

 

 

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