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Wednesday, 19 April 2017

BY THE NUMBERS

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

EGP / USD CBE market average: Buy 18.0303 | Sell 18.1332
EGP / USD at CIB: Buy 18.05 | Sell 18.15
EGP / USD at NBE: Buy 17.95 | Sell 18.05

EGX30 (Tuesday): 13,027 (+0.5%)
Turnover: EGP 992 mn (13% below the 90-day average)
EGX 30 year-to-date: +5.5%

THE MARKET ON TUESDAY: The EGX30 ended Tuesday’s session up 0.5%. CIB, the index heaviest constituent ended up 0.1%. EGX30’s top performing constituents were: Eastern Co. up 4.6%, Global Telecom up 4.5%, and GB Auto up 3.3%. Yesterday’s worst performing stocks included: Pioneers Holding down 2.2%, Credit Agricole down 2.2% and TMG Holding down 1.3%. The market turnover was EGP 992 million, and foreign investors were the sole net buyers.

Foreigners: Net Long | EGP +68.9 mn
Regional: Net Short | EGP -67.1 mn
Domestic: Net Short | EGP -1.8 mn

Retail: 56.3% of total trades | 57.1% of buyers | 55.5% of sellers
Institutions: 43.7% of total trades | 42.9% of buyers | 45.5% of sellers

Foreign: 22.0% of total | 25.5% of buyers | 18.6% of sellers
Regional: 11.8% of total | 8.4% of buyers | 15.1% of sellers
Domestic: 66.2% of total | 66.1% of buyers | 66.3% of sellers

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PHAROS VIEW

Financial conditions remain tight as the economic activity slows down in 3Q FY2016/17

Pharos Holding’s Financial Conditions Index found that real GDP growth cooled off in 3Q FY2016/17, which the firm’s Ramy Oraby writes “was no surprise given the decline in sales volume across various sectors, in addition to the short-term uncertainty following the implementation of the economic reform measures in 1H FY2016/17.” The FCI takes into account real broad money supply (% YoY) as a measure of domestic liquidity; the EGX30 Index (%YoY); short-term interest rate (CBE overnight lending nominal interest rate and one-year treasury bill nominal yield); and the real effective exchange rate (REER). Tap or click here to view the full report.

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WTI: USD 52.37 (-0.08%)
Brent: USD 54.85 (-0.07%)
Natural Gas (Nymex, futures prices) USD 3.15 MMBtu, (+0.13%, May 2017 contract)
Gold: USD 1,290.50 / troy ounce (-0.28%)

TASI: 6,942.4 (-1.0%) (YTD: -3.7%)
ADX: 4,494.3 (-1.1%) (YTD: -1.1%)
DFM: 3,495.8 (+0.9%) (YTD: -1.0%)
KSE Weighted Index: 413.6 (-0.3%) (YTD: +8.8%)
QE: 10,336.3 (0.0%) (YTD: -1.0%)
MSM: 5,528.1 (-0.3%) (YTD: -4.4%)
BB: 1,337.9 (-0.6%) (YTD: +9.6%)

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.

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