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Wednesday, 11 October 2017

The Market Yesterday

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Pharos Holding -

EGP / USD CBE market average: Buy 17.59 | Sell 17.69
EGP / USD at CIB: Buy 17.58 | Sell 17.68
EGP / USD at NBE: Buy 17.6 | Sell 17.7

EGX30 (Tuesday): 13,824 (-1.0%)
Turnover: EGP 1.4 bn (52% above the 90-day average)
EGX 30 year-to-date: +12.0%

THE MARKET ON TUESDAY: The EGX30 closed Tuesday’s session down 1.0%. CIB, the index heaviest constituent closed down 2.0%. EGX30’s top performing constituents were: Egyptian Iron & Steel up 5.2%; KIMA up 3.9%; and Madinet Nasr Housing up 3.7%. Today’s worst performing stocks were: Abu Dhabi Islamic Bank down 3.2%; Egyptian Resorts down 2.7%; and Amer Group down 2.6%. The market turnover was EGP 1.4 bn, and foreign investors were the sole net sellers.

Foreigners: Net Short | EGP -30.1 mn
Regional: Net Long | EGP +0.5 mn
Domestic: Net Long | EGP +29.6 mn

Retail: 70.4% of total trades | 71.9% of buyers | 69% of sellers
Institutions: 29.6% of total trades | 28.1% of buyers | 31% of sellers

Foreign: 13.4% of total | 12.3% of buyers | 14.5% of sellers
Regional: 7.6% of total | 7.7% of buyers | 7.6% of sellers
Domestic: 79% of total | 80% of buyers | 77.9% of sellers


Monthly Inflation Pace Continued to Normalize at Pre-flotation Level: Pharos Holding expects the annual inflation rate to decelerate to 26.5% in 2Q2017-18 from 32.2% in 1Q2017-18, and fall even further to 13.6% in 2Q2018-19. Pharos’ comes on the back of falling inflation with the annual urban inflation rate decelerating marginally to 31.6% YoY in September from 31.9% YoY in August. You can catch the full report here.


WTI: USD 50.94 (+2.74%)
Brent: USD 56.54 (+1.34%)
Natural Gas (Nymex, futures prices) USD 2.88 MMBtu, (+1.69%, NOV 2017 contract)
Gold: USD 1,290.3 / troy ounce (+0.41%)

TASI: 7,041.28 (-1.02%) (YTD: -2.35%)
ADX: 4,472.04 (+0.48%) (YTD: -1.63%)
DFM: 3,608.82 (-0.06%) (YTD: +2.21%)
KSE Weighted Index: 432.6 (-1.05%) (YTD: +13.82%)
QE: 8,253.34 (+0.49%) (YTD: -20.92%)
MSM: 5,130.59 (-0.7%) (YTD: -11.28%)
BB: 1,272.61 (-0.12%) (YTD: +4.2%)

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