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Tuesday, 20 June 2017

BY THE NUMBERS

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

EGP / USD CBE market average: Buy 18.0465 | Sell 18.1459
EGP / USD at CIB: Buy 18.05 | Sell 18.15
EGP / USD at NBE: Buy 17.95 | Sell 18.05

EGX30 (Monday): 13,508 (+0.1%)
Turnover: EGP 753 mn (38% below the 90-day average)
EGX 30 year-to-date: +9.4%

THE MARKET ON MONDAY: The EGX30 ended Monday’s session up 0.1%. CIB, the index heaviest constituent ended up 0.1%. EGX30’s top performing constituents were: Orascom Construction up 2.2%, Ezz Steel up 1.8%, and Global Telecom up 1.8%. Yesterday’s worst performing stocks were: Egyptian Iron and Steel down 9.0%, Porto Group down 2.4%, and GB Auto down 1.4%. The market turnover was EGP 753 mn, and foreign investors were the sole net buyers.

Foreigners: Net Long | EGP +32.8 mn
Regional: Net Short | EGP -3.3 mn
Domestic: Net Short | EGP -29.5 mn

Retail: 61.2% of total trades | 58.0% of buyers | 64.3% of sellers
Institutions: 38.8% of total trades | 42.0% of buyers | 35.7% of sellers

Foreign: 23.8% of total | 26.0% of buyers | 21.6% of sellers
Regional: 10.1% of total | 9.9% of buyers | 10.4% of sellers
Domestic: 66.1% of total | 64.1% of buyers | 68.0% of sellers

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PHAROS VIEW

Pharos Financial Conditions Index — A Temporary Decline in May as the Policy Rate Hike Feeds into the System: The Financial Conditions Index (FCI) down in May despite further policy tightening by the CBE on 21 May, due to the time-lag between a policy rate change and its effect on financial market. real M2 annual growth accelerated in May, while the EGX30 Index rose 7.3% month-on-month and the exchange rate stabilized. Meanwhile, the overnight interbank spread sub-index declined in May, which was no surprise since the impact of the CBE’s 200 bps policy rate hike on the average daily overnight interbank rate was not fully felt yet. You can read the full report here (pdf).

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WTI: USD 44.28 (+0.18%)
Brent: USD 47.02 (+0.23%)
Natural Gas (Nymex, futures prices) USD 2.89 MMBtu, (-0.10%, July 2017 contract)
Gold: USD 1,245.90 / troy ounce (-0.60%)

TASI: 7,046.53 (+2.40%) (YTD: -2.27%)
ADX: 4,491.29 (-0.21%) (YTD: -1.21%)
DFM: 3,458.37 (+0.41%) (YTD: -2.05%)
KSE Weighted Index: 407.90 (+0.54%) (YTD: +7.32%)
QE: 9,069.34 (-1.29%) (YTD: -13.10%)
MSM: 5,220.94 (-0.54%) (YTD: -9.71%)
BB: 1,316.52 (-0.50%) (YTD: +7.87%)

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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