Back to the complete issue
Wednesday, 30 August 2017

The Market Yesterday

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

EGP / USD CBE market average: Buy 17.63 | Sell 17.73
EGP / USD at CIB: Buy 17.63 | Sell 17.73
EGP / USD at NBE: Buy 17.64 | Sell 17.74

EGX30 (Tuesday): 13,195 (+1.4%)
Turnover: EGP 706 mn (20% below the 90-day average)
EGX 30 year-to-date: +6.9%

THE MARKET ON TUESDAY: The EGX30 closed Tuesday’s session up 1.4%. CIB, the index heaviest constituent closed up 1.4%. EGX30’s top performing constituents were: Qalaa Holdings up 4.3%; Amer Group up 3.5%; and Emaar Misr up 2.9%. Today’s worst performing stocks were: Oriental Weavers down 0.9%; Egyptian Financial and Industrial down 0.2%; and Eastern Co closed flat. The market turnover was EGP 706 mn, and regional investors were the sole net sellers.

Foreigners: Net Long | EGP +7.2 mn
Regional: Net Short | EGP -12.8 mn
Domestic: Net Long | EGP +5.6 mn

Retail: 62.5% of total trades | 57.7% of buyers | 67.3% of sellers
Institutions: 37.5% of total trades | 42.3% of buyers | 32.7% of sellers

Foreign: 22.1% of total | 22.6% of buyers | 21.6% of sellers
Regional: 11.6% of total | 10.7% of buyers | 12.5% of sellers
Domestic: 66.3% of total | 66.7% of buyers | 65.9% of sellers


***
PHAROS VIEW

Monéscope 2Q2017 — An Emerging Gradual Economic Recovery: In its latest report, Pharos Holding takes us through some of the metrics and signs that our economy is improving. Real GDP growth rate rose to 4.9% in 4QFY2016-17 from 4.3% in 3QFY2016-17 in no small measure as a result of the EGP float. This improvement is expected to continue to 1Q2017-18 on the back of interest in the energy sector and improved tourism receipts. The unemployment rate stabilized at 11.98% in 4Q2016-17, while aggregate system deposits expanded by 6.1% in 2Q2017. Meanwhile, net Interest income jumped from 4.0% as of 4Q2016 to record 4.6% as of 1Q2017. On the flipside, the EGX underperformed, with small cap companies being the best performers. You can view the full reports here (pdf).

***


WTI: USD 46.32 (-0.54%)
Brent: USD 51.95 (+0.12%)
Natural Gas (Nymex, futures prices) USD 2.96 MMBtu, (+1.23%, September 2017 contract)
Gold: USD 1,313.80 / troy ounce (-0.39%)TASI: 7,258.64 (-0.04%) (YTD: +0.67%)
ADX: 4,463.56 (-0.48%) (YTD: -1.82%)
DFM: 3,610.77 (-0.06%) (YTD: +2.26%)
KSE Weighted Index: 432.36 (+0.32%) (YTD: +13.75%)
QE: 8,858.9 (-0.92%) (YTD: -15.12%)
MSM: 5,047.01 (+0.87%) (YTD: -12.72%)
BB: 1,298.79 (-0.14%) (YTD: +6.42%)

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.