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Tuesday, 23 May 2017

BY THE NUMBERS

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Pharos Holding - http://www.pharosholding.com/

EGP / USD CBE market average: Buy 18.0215 | Sell 18.1253
EGP / USD at CIB: Buy 18.05 | Sell 18.15
EGP / USD at NBE: Buy 17.95 | Sell 18.05

EGX30 (Monday): 12,648 (-2.5%)
Turnover: EGP 1.6 bn
EGX 30 year-to-date: +2.5%

THE MARKET ON MONDAY: The EGX30 ended Monday’s session down 2.5%. Yesterday, all EGX30 stocks ended in a negative territory except for Porto Group and Eastern Co. that ended the day almost flat. CIB, the index heaviest constituent ended down 1.1%. Monday’s worst performing stocks were: Cairo Oils & Soap down 8.9%, Ezz Steel down 8.9%, and Qalaa Holdings down 8.5%. The market turnover was EGP 1.6 bn, and foreign investors were the sole net buyers.

Foreigners: Net Long | EGP +399.0 mn
Regional: Net Short | EGP -47.7 mn
Domestic: Net Short | EGP -351.3 mn

Retail: 47.3% of total trades | 48.6% of buyers | 46.0% of sellers
Institutions: 52.7% of total trades | 51.4% of buyers | 54.0% of sellers

Foreign: 24.7% of total | 36.4% of buyers | 12.9% of sellers
Regional: 8.5% of total | 7.1% of buyers | 9.9% of sellers
Domestic: 66.8% of total | 56.5% of buyers | 77.2% of sellers


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PHAROS VIEW

Against All Odds, CBE Raised Policy Rates by 200 Basis Points

Following yesterday’s nominal interest rate hike, Pharos projects the annual inflation rate to reach 14.2% in FY2018-19. This is in line with the MPC’s announced target range of 10-16% by 4Q2018. However, this remains above the IMF’s projection of 10.9% and 8.1% in FY2018/19 and FY2019/20, respectively. Tap here to read the full report.

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WTI: USD 50.73 (+0.79%)
Brent: USD 53.85 (-0.04%)
Natural Gas (Nymex, futures prices) USD 3.32 MMBtu, (-0.21%, June 2017 contract)
Gold: USD 1,262.30 / troy ounce (+0.07%)

TASI: 6,987.65 (-0.04%) (YTD: -3.09%)
ADX: 4,551.79 (-0.41%) (YTD: +0.12%)
DFM: 3,390.04 (+0.11%) (YTD: -3.99%)
KSE Weighted Index: 402.49 (-0.49%) (YTD: 5.89%)
QE: 10,134.90 (+0.84%) (YTD: -2.89%)
MSM: 5,413.43 (+0.11%) (YTD: -6.39%)
BB: 1,308.91 (+0.03%) (YTD: +7.25%)

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