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Wednesday, 13 September 2017

The Market Yesterday

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

EGP / USD CBE market average: Buy 17.6143 | Sell 17.7143
EGP / USD at CIB: Buy 17.60 | Sell 17.70
EGP / USD at NBE: Buy 17.63 | Sell 17.73

EGX30 (Tuesday): 13,475 (-0.4%)
Turnover: EGP 1.2 bn (34% above the 90-day average)
EGX 30 year-to-date: +9.2%

THE MARKET ON TUESDAY: The EGX30 ended Tuesday’s session down 0.4%. CIB, the index heaviest constituent ended down 0.4%. EGX30’s top performing constituents were: Emaar Misr up 3.1%, Egyptian Resorts 1.6%, and Cairo Oils & Soap up 1.5%. Yesterday’s worst performing stocks included: Elsewedy Electric and Oriental Weavers down 2.1%, and Global Telecom down 1.6%. Market turnover was EGP 1.2 bn, and local investors were the sole net buyers.

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PHAROS VIEW

Pharos sees Egypt balance of payments continuing to improve in FY2017-18: Egypt’s balance of payments fundamentals are expected to continue improving during FY2017-18 as the country’s petroleum deficit narrows, with production from the supergiant Zohr gas field coming online, as well as higher FDI and tourism inflows and receipts, Pharos Research says in their latest report (pdf).

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WTI: USD 48.28 (+0.10%)
Brent: USD 54.27 (+0.80%)
Natural Gas (Nymex, futures prices) USD 3.00 MMBtu, (-0.07%, October 2017 contract)
Gold: USD 1,335.60 / troy ounce (+0.22%)TASI: 7,399.98 (-0.15%) (YTD: +2.63%)
ADX: 4,470.12 (+0.71%) (YTD: -1.68%)
DFM: 3,652.88 (-0.03%) (YTD: +3.46%)
KSE Weighted Index: 440.36 (-0.46%) (YTD: +15.86%)
QE: 8,471.60 (-0.71%) (YTD: -18.83%)
MSM: 5,010.68 (-0.56%) (YTD: -13.35%)
BB: 1,307.60 (-0.23%) (YTD: +7.14%)

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