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Monday, 19 February 2018

The Market Yesterday

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

EGP / USD CBE market average: Buy 17.6319 | Sell 17.7319
EGP / USD at CIB:
Buy 17.59 | Sell 17.69
EGP / USD at NBE: Buy 17.60 | Sell 17.70

EGX30 (Sunday): 15,046 (+0.5%)
Turnover: EGP 1.4 bn (24% ABOVE the 90-day average)
EGX 30 year-to-date: +0.2%

THE MARKET ON SUNDAY: The EGX30 ended Sunday’s session up 0.5%. CIB, the index heaviest constituent closed up 0.2%. EGX30’s top performing constituents were SODIC up 5.5%; Heliopolis Housing up 3.9%; and Madinet Nasr Housing up 3.4%. Yesterday’s worst performing stocks were Egypt Aluminum down 1.9%; Telecom Egypt down 1.8%; and Eastern Co down 1.5%. The market turnover was EGP 1.4 bn, and regional investors were the sole net buyers.

Foreigners: Net Short | EGP -27.7 mn
Regional: Net Long | EGP +75.7 mn
Domestic: Net Short | EGP -48.1 mn

Retail: 63.4% of total trades | 59.3% of buyers | 67.6% of sellers
Institutions: 36.6% of total trades | 40.7% of buyers | 32.4% of sellers

Foreign: 12.8% of total | 11.8% of buyers | 13.8% of sellers
Regional: 19.6% of total | 22.2% of buyers | 16.9% of sellers
Domestic: 67.6% of total | 66.0% of buyers | 69.3% of sellers


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PHAROS VIEW

Drop in Pharos FCI in January reflects loosening monetary policy: The Pharos Financial Conditions Index (FCI) took a further drop in January, driven by the increase in real broad money supply, increasing by 20.9% y-o-y for the month and reflecting the loosening in domestic liquidity. The FCI drop was also driven by the depreciation of real effective exchange rate for the EGP_ in January to 75.70 from 76.22 in December. The slope of the yield curve, however, is still inverted, indicating more tight conditions in the short term. Moreover, it slightly widened from 3.04% in December to 3.28% in January. You can read the full report here (pdf).

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WTI: USD 61.68 (+0.55%)
Brent: USD 64.84 (+0.79%)

Natural Gas (Nymex, futures prices) USD 2.56 MMBtu, (-0.85%, March 2018 contract)
Gold: USD 1,356.2 / troy ounce (+0.07%)

TASI: 7,508.44 (-0.03%) (YTD: +3.9%)
ADX: 4,582.48 (+0.11%) (YTD: +4.18%)
DFM: 3,292.05 (-1.15%) (YTD: -2.32%)
KSE Weighted Index: 407.55 (-0.76%) (YTD: +1.53%)
QE: 9,079.43 (+0.57%) (YTD: +6.52%)
MSM: 5,014.41 (-0.04%) (YTD: -1.66%)
BB: 1,332.51 (-0.54%) (YTD: +0.06%)

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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