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Sunday, 29 October 2017

The Market Yesterday

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

EGP / USD CBE market average: Buy 17.5993 | Sell 17.6991
EGP / USD at CIB: Buy 17.58 | Sell 17.68
EGP / USD at NBE: Buy 17.60 | Sell 17.70

EGX30 (Thursday): 13,955 (+0.4%)
Turnover: EGP 1.2 bn (28% above the 90-day average)
EGX 30 year-to-date: +13.0%

THE MARKET ON THURSDAY: The EGX30 ended Thursday’s session up 0.4%. EGX30’s top performing constituents were: EFG Hermes up 3.3%; Qalaa Holdings up 3.0%; and Amer Group up 2.8%. Thursday’s worst performing stocks were: Egyptian Iron and Steel down 2.6%; and CIB down 1.1%; and Kima down 0.4%. The market turnover was EGP 1.2 bn, and regional investors were the sole net buyers.

Foreigners: Net Short | EGP -31.4 mn
Regional: Net Long | EGP +55.4 mn
Domestic: Net Short | EGP -24.0 mn

Retail: 73% of total trades | 70.1% of buyers | 76.0% of sellers
Institutions: 27.0% of total trades | 29.9% of buyers | 24.0% of sellers

Foreign: 10.6% of total | 9.3% of buyers | 11.8% of sellers
Regional: 10.8% of total | 13.1% of buyers | 8.7% of sellers
Domestic: 78.6% of total | 77.6% of buyers | 79.5% of sellers

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PHAROS VIEW

External Debt Accumulation Slowed Down in 4Q2016-17: Egypt’s total external debt rose by 7% q-o-q in 4Q2016-17 to USD 79.0 bn (42.7% of GDP) from USD 73.9 bn (41.2% of GDP) in 3Q2016-17, it’s slowest pace since the EGP was floated last November. This was mainly driven by a 8.9% q-o-q increase in the medium-long term external debt to reach USD 66.7 bn in 4Q2016-17. The government contribution to the increase in the total external debt was 3.6% on the back of May’s USD 3 bn international bond issuance, followed by ‘other sectors’ contribution, which includes the private sector at 2.7%. You can read the full report here.

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WTI: USD 53.90 (+2.39%)
Brent: USD 60.44 (+1.92%)
Natural Gas (Nymex, futures prices) USD 2.96 MMBtu, (-2.85%, December 2017 contract)
Gold: USD 1,271.80 / troy ounce (+0.17%)

TASI: 6,910.65 (+0.07%) (YTD: -4.16%)
ADX: 4,467.72 (-0.70%) (YTD: -1.73%)
DFM: 3,651.10 (-0.39%) (YTD: +3.40%)
KSE Weighted Index: 429.09 (+0.13%) (YTD: +12.89%)
QE: 8,128.25 (+0.04%) (YTD: -22.12%)
MSM: 4,958.57 (-0.80%) (YTD: -14.25%)
BB: 1,277.38 (-0.08%) (YTD: +4.66%)

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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