Egypt’s benchmark EGX 30 Index gained for the third day, increasing 0.8 percent to 6,977.17 as of the 2:30 p.m. close in Cairo, the highest level since May 6
The following stocks rose or fell in Egypt. Symbols are in parentheses.
Alexandria Portland Cement Co. advanced for the third day, climbing 1.9 percent to 20.59 Egyptian pounds. Titan Cement Co SA completed the sale of a minority stake in its Egyptian unit Alexandria Portland to International Finance Corp. for 80 million euros ($109.7 million).
IFC will hold an indirect stake of 15.2 percent in Alexandria Portland via its unit Alexandria Development Ltd., according to an e-mailed statement from Athens-based Titan today.
Orascom Telecom Holding gained 1.8 percent to 4.49 pounds, the highest since Oct. 28. The biggest mobile- telephone company in the Middle East by number of subscriptions sold its 50 percent stake of Telecom Tunisie for $1.2 billion to a unit of Qatar Telecom QSC and Princesse Holding of Tunisia.
