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EGP / USD CBE market average: Buy 17.6004 | Sell 17.7003
EGP / USD at CIB: Buy 17.56 | Sell 17.66
EGP / USD at NBE: Buy 17.58 | Sell 17.68

EGX30 (Sunday): 14,271 (-0.6%)
Turnover: EGP 846 mn (14% below the 90-day average)
EGX 30 year-to-date: +15.6%

THE MARKET ON SUNDAY: The EGX30 ended Sunday’s session down 0.6%. CIB, the index heaviest constituent ended down 0.7%. EGX30’s top performing constituents were: Abu Dhabi Islamic Bank up 3.1%, Qalaa Holdings up 1.4%, and Ezz Steel up 1.0%. Yesterday’s worst performing stocks were: Domty down 3.3%, Porto Group down 2.6%, and Kima down 2.5%. The market turnover was EGP 846 mn, and local investors were the sole net buyers.

Foreigners: Net Short | EGP -23.4 mn
Regional: Net Short | EGP -10.9 mn
Domestic: Net Long | EGP +34.3 mn

Retail: 82.5% of total trades | 80.3% of buyers | 84.6% of sellers
Institutions: 17.5% of total trades | 19.7% of buyers | 15.4% of sellers

Foreign: 6.5% of total | 5.1% of buyers | 7.9% of sellers
Regional: 9.0% of total | 8.4% of buyers | 9.6% of sellers
Domestic: 84.5% of total | 86.5% of buyers | 82.5% of sellers

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PHAROS VIEW

The CBE’s Monetary Policy Committee may cut interest rates by 75 bps at its upcoming meeting on 16 November, Pharos Research suggests in its latest report. The deceleration of the annual headline consumer price index over the past three months, while the monthly change in the producer price index eased between July and September, indicating that the shock effect from the government’s subsidy reform measures is now over. “A key challenge ahead of the MPC in the following meetings will be to manage expectations toward a gradual, rather than an aggressive, monetary easing pace,” Pharos says. Tap or click here to view the full report (pdf).

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WTI: USD 56.74 (-0.75%)
Brent: USD 63.52 (-0.64%)
Natural Gas (Nymex, futures prices) USD 3.21 MMBtu, (+0.41%, December contract)
Gold: USD 1,274.20 / troy ounce (-1.03%)

TASI: 6,933.09 (-0.31%) (YTD: -3.85%)
ADX: 4,373.73 (-0.06%) (YTD: -3.80%)
DFM: 3,464.74 (+0.43%) (YTD: -1.87%)
KSE Weighted Index: 391.87 (-1.46%) (YTD: +3.10%)
QE: 7,875.63 (-0.13%) (YTD: -24.54%)
MSM: 5,067.21 (+0.24%) (YTD: -12.37%)
BB: 1,264.24 (-0.26%) (YTD: +3.59%)