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Tuesday, 16 January 2018

Healthcare, pharma hot 2018 EGX picks

Egyptian stocks are above pre-float USD valuations: Healthcare and pharma stocks are poised to be the hottest picks on the EGX in 2018, CI Capital Asset Management money manager Khaled Darwish tells Bloomberg. Egyptian stocks have already surpassed the pre-EGP float valuations and the EGX30 advanced more than any other in the Middle East in 2017. Darwish is bullish on healthcare and pharma stocks as Egypt expands its universal healthcare program and, overall, “positive sentiment toward equities will continue this year as many stocks trade at attractive valuations, while conditions in the Egyptian economy are supportive.” In comparison, Darwish is a bit more cautious on real estate and banking stocks.

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