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Tuesday, 24 July 2018

The Market Yesterday

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Pharos Holding -

EGP / USD CBE market average: Buy 17.85 | Sell 17.95
Buy 17.85 | Sell 17.95
EGP / USD at NBE: Buy 17.78 | Sell 17.88

EGX30 (Sunday): 15,304 (-0.7%)
Turnover: EGP 383 mn (59% below the 90-day average)
EGX 30 year-to-date: +1.9%

THE MARKET ON SUNDAY: The EGX30 ended Sunday’s session down 0.7%. CIB, the index heaviest constituent ended down 0.2%. EGX30’s top performing constituents were Emaar Misr up 2.0%, Heliopolis Housing up 1.9%, and ACC up 1.3%. Sunday’s worst performing stocks were Qalaa Holdings down 4.8%, Amer Group down 3.5%, and Egyptian Iron & Steel down 3.1%. The market turnover was EGP 383 mn, and regional investors were the sole net sellers.

Foreigners: Net Long | EGP +11.4 mn
Regional: Net Short | EGP -15.5 mn
Domestic: Net Long | EGP +4.1 mn

Retail: 77.3% of total trades | 82.1% of buyers | 72.6% of sellers
Institutions: 22.7% of total trades | 17.9% of buyers | 27.4% of sellers

Foreign: 4.1% of total | 5.6% of buyers | 2.6% of sellers
Regional: 6.2% of total | 4.2% of buyers | 8.2% of sellers
Domestic: 89.7% of total | 90.2% of buyers | 89.1% of sellers


Rise in Pharos FCI in June reflects tightening monetary policy: The Pharos Financial Conditions Index (FCI) rose in June, driven by the slower acceleration in the real broad money supply, which increased by only 2.4% y-o-y when factoring inflation. M2 money supply rose 17.12% y-o-y without the inflation input. The FCI drop was also driven by an appreciation of the real effective exchange rate for the EGP​ in June to 79.19 from 77.54 in May. The slope of the yield curve flattened to 3.13% in June from 3.18% in May, indicating more tight conditions in the short term. You can read the full report here (pdf).


WTI: USD 62.72 (-0.25%)
Brent: USD 72.84 (-0.30%)

Natural Gas (Nymex, futures prices) USD 2.71 MMBtu, (-0.33%, August 2018 contract)
Gold: USD 1,222.70 / troy ounce (-0.24%)

TASI: 8,448.48 (-0.21%) (YTD: +16.91%)
ADX: 4,760.95 (-0.21%) (YTD: +8.24%)
DFM: 2,932.04 (+0.37%) (YTD: -13.00%)
KSE Premier Market: 5,360.82 (+0.47%)
QE: 9,435.29 (+0.78%) (YTD: +10.70%)
MSM: 4,433.06 (-0.34%) (YTD: -13.06%)
BB: 1,357.15 (+0.37%) (YTD: +1.91%)

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