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EGP / USD CBE market average: Buy 18.0418 | Sell 18.1409
EGP / USD at CIB: Buy 18.05 | Sell 18.15
EGP / USD at NBE: Buy 17.95 | Sell 18.05

EGX30 (Thursday): 13,479 (-0.2%)
Turnover: EGP 1.2 bn (39% below the 90-day average)
EGX 30 year-to-date: +9.2%

THE MARKET ON THURSDAY: The EGX30 Thursday’s session down 0.2%. CIB, the index heaviest constituent ended down 0.9%. EGX30’s top performing constituents were: Amer Group up 5.3%, Eastern Co up 4.3%, and Palm Hills up 3.3%. Thursday’s worst performing stocks were: Qalaa Holdings down 3.6%, EFG Hermes down 2.3%, and Emaar Misr down 2.0%. The market turnover was EGP 1.2 bn, and foreign investors were the sole net sellers.

Foreigners: Net Short | EGP -119.6 mn
Regional: Net Long | EGP +85.3 mn
Domestic: Net Long | EGP +34.3 mn

Retail: 50.0% of total trades | 56.4% of buyers | 43.7% of sellers
Institutions: 50.0% of total trades | 43.6% of buyers | 56.3% of sellers

Foreign: 33.2% of total | 28.0% of buyers | 38.4% of sellers
Regional: 9.8% of total | 13.5% of buyers | 6.1% of sellers
Domestic: 57.0% of total | 58.5% of buyers | 55.5% of sellers

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PHAROS VIEW

Balance of Payments 3Q FY2016-17 — The Fundamental BoP Indicator Improves Significantly: In its latest report, Pharos Holdings runs down the improvement detailed in the CBE’s report on Egypt’s balance of payments in 3Q16-17. Pharos believes that the improvement will be a major line of defense offsetting any short-term volatility as a result of a Fed interest rate hike. You can catch the full report here (pdf).

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WTI: USD 44.74 (+0.63%)
Brent: USD 47.37 (+0.96%)
Natural Gas (Nymex, futures prices) USD 3.04 MMBtu, (-0.62%, July 2017 contract)
Gold: USD 1,256.50 / troy ounce (+0.15%)

TASI: 6,820.81 (-0.48%) (YTD: -5.40%)
ADX: 4,501.77 (0.75%) (YTD: -0.98%)
DFM: 3,459.44 (+0.25%) (YTD: -2.02%)
KSE Weighted Index: 399.79 (+0.32%) (YTD: 5.18%)
QE: 9,257.90 (+0.74%) (YTD: -11.30%)
MSM: 5,248.41 (-0.99%) (YTD: -9.24%)
BB: 1,327.02 (0.00%) (YTD: +8.73%)