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Tuesday, 4 July 2017

BY THE NUMBERS

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EGP / USD CBE market average: Buy 17.8926 | Sell 17.9912

EGP / USD at CIB: Buy 17.90 | Sell 18.00

EGP / USD at NBE: Buy 17.86 | Sell 17.96

EGX30 (Monday): 13,431 (-0.41%)
Turnover: EGP 611 mn (35% below the 90-day average)
EGX 30 year-to-date: +8.8%

THE MARKET ON MONDAY: The EGX30 ended Monday’s session down 0.4%. CIB, the index heaviest constituent ended up 0.2%. EGX30’s top performing constituents were: Egyptian Iron and Steel up 2.0%, Juhayna up 1.5%, and Orascom Telecom Media and Technology up 1.5%. Yesterday’s worst performing stocks were: Madinet Nasr Housing down 3.3%, Amer Group down 2.6%, and Porto Group down 2.5%. The market turnover was EGP 611 mn, and local investors were the sole net sellers.

Foreigners: Net Long | EGP +54.1 mn
Regional: Net Long | EGP +6.3 mn
Domestic: Net Short | EGP -60.4 mn

Retail: 68.3% of total trades | 63.3% of buyers | 73.3% of sellers
Institutions: 31.7% of total trades | 36.7% of buyers | 26.7% of sellers

Foreign: 20.4% of total | 24.9% of buyers | 16.0% of sellers
Regional: 7.9% of total | 8.4% of buyers | 7.4% of sellers
Domestic: 71.7% of total | 66.7% of buyers | 76.6% of sellers

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PHAROS VIEW

The CBE Monetary Policy Communication — Words Should Speak As Loud As Actions: In its latest report, Pharos Holdings looks into the evolution of the CBE monetary policy communication since 2005 to help clients gauge its decisions and look into its tell. Pharos notes the CBE’s increased reliance on core inflation indicators, while urging clients to pay attention other indicators such as headline inflation. It also looks at the increasing complexity and length of the CBE’s statements. The report concludes that while the frequent issuance of the Monetary Policy Report is a positive development, more is still needed in terms of improving the MPC statement readability and forward guidance. You can view the full report here.

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WTI: USD 47.03 (-0.08%)
Brent: USD 49.62 (+1.74%)

Natural Gas (Nymex, futures prices) USD 2.96 MMBtu, (+0.30%, August 2017 contract)
Gold: USD 1,222.60 / troy ounce (+0.28%)

TASI: 7,493.45 (+0.10%) (YTD: +3.93%)
ADX: 4,414.45 (-0.66%) (YTD: -2.90%)
DFM: 3,424.69 (+1.22%) (YTD: -3.01%)
KSE Weighted Index: 395.81 (-0.78%) (YTD: +4.14%)
QE: 8,936.52 (+1.30%) (YTD: -14.37%)
MSM: 5,088.50 (-0.55%) (YTD: -12.00%)
BB: 1,136.01 (-0.25%) (YTD: +7.83%)

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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