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Wednesday, 11 May 2016


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Pharos Holding -

** Pharos Holding is proud to be the platinum sponsor of the Egyptian Capital Markets Association’s 20th anniversary event at the Four Seasons Nile Plaza Hotel, Cairo, Egypt on Tuesday, 17 May 2016.

USD CBE auction (Tuesday, 10 May): 8.78 (unchanged since Wednesday, 16 March)
USD parallel market (Wednesday, 10 May): 10.95 (+0.10 from Sunday, 8 May, Reuters)

EGX30 (Tuesday): 7,621.91 (-0.32%)
Turnover: EGP 467.73 mn (7% above the 90-day average)
EGX 30 year-to-date: 8.79%

THE MARKET ON TUESDAY: EGX30 traded in negative territory at the beginning of the session and managed to climb into positive territory, only to later slide and close 0.3% down. South Valley Cement, GB Auto, and Oriental Weavers were the only constituents to close in positive territory. The worst-performing index mem­bers were Emaar Misr for Development, Heliopolis Company for Housing and Development, and Ezz Steel. At a market turnover of EGP 467.7 mn, local investors were the sole net sellers of the day. Regionally, Saudi Arabia’s TASI fell 0.7%, Dubai’s DFM General Index 0.1%, and Abu Dhabi’s ADX General Index 1.1%.

Foreigners:Net long | EGP + 19.7 mn
Regional:Net long | EGP + 34.6 mn
Domestic:Net short | EGP – 54.3 mn

Retail: 65.5% of total trades | 62.7% of buyers | 68.3% of sellers
Institutions: 34.5% of total trades | 37.3% of buyers | 31.7% of sellers

Foreign: 15.0% of total | 17.1% of buyers | 12.9% of sellers
Regional: 8.1% of total | 11.8% of buyers | 4.4% of sellers
Domestic: 76.9% of total | 71.1% of buyers | 82.7% of sellers

WTI: USD 44.60 (+3.03%)
Brent: USD 45.41 (+4.49%)
Gold: USD 1,268.20 / troy ounce (+0.21%)

TASI: 6,644.8 (-0.7%)
ADX: 4,427.4 (-1.1%)
DFM: 3,312.4 (-0.1%)
KSE Weighted Index: 362.2 (-0.2%)
QE: 9,883.6 (0.3%)
MSM: 5,978.9 (-0.7%)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.