OCI, Mobinil, Telecom Egypt, Kabo: Egyptian Equity Preview

The benchmark EGX30 Index gained 1.2 percent to 4,715.56 in Cairo.

Egyptian Co. for Mobile Services (EMOB EY): The Arab country’s second-biggest mobile-network operator by subscribers, also known as Mobinil, was cut to “hold” from “buy” at Beltone Financial Holding because of a boycott campaign against the company and “weaker than foreseen” first-half profit. The stock estimate was reduced 35 percent to 114 pounds by the Cairo-based investment bank. The shares advanced 0.4 percent to 98.13 pounds.

El Nasr Clothes & Textiles (KABO) : The Cairo-based clothing manufacturer, also known as Kabo, said a labor strike that started Aug. 17 has not ended and the company is negotiating with the government to find a solution. The shares were unchanged at 82 piasters.

Orascom Construction Industries (OCIC) : The Arab country’s biggest publicly traded builder said second-quarter profit rose 15 percent from a year earlier to $165 million. That compares with the $205 million median estimate of five analysts surveyed by Bloomberg. The shares gained 1.9 percent to 244.33 pounds.

Telecom Egypt (ETEL) : The share-price estimate of Egypt’s monopoly fixed-line telephone company was raised 2.8 percent to 18.5 pounds at AlembicHC Securities. The shares climbed 2.3 percent to 15.28 pounds.