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Monday, 3 September 2018

The Market Yesterday

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

EGP / USD CBE market average: Buy 17.84 | Sell 17.94
EGP / USD at CIB: Buy 17.84 | Sell 17.94
EGP / USD at NBE: Buy 17.78 | Sell 17.88

EGX30 (Sunday): 15,852 (-1.0%)
Turnover: EGP 669 mn (20% below the 90-day average)
EGX 30 year-to-date: +5.5%

THE MARKET ON SUNDAY: The EGX30 ended Sunday’s session down 1.0%. CIB, the index heaviest constituent ended down 0.9% . EGX30’s top performing constituents were Emaar Misr up 3.2%, Heliopolis Housing up 3.1%, and Madinet Nasr Housing up 3.0%. Yesterday’s worst performing stocks were Global Telecom down 11.2%, Pioneers Holding down 4.3%, and Palm Hills down 2.2%. The market turnover was EGP 669 mn, and regional investors were the sole net sellers.

Foreigners: Net Long | EGP +26.0 mn
Regional: Net Short | EGP -27.0 mn
Domestic: Net Long | EGP +1.0 mn

Retail: 66.4% of total trades | 71.0% of buyers | 61.9% of sellers
Institutions: 33.6% of total trades | 29.0% of buyers | 38.1% of sellers

Foreign: 11.1% of total | 13.0% of buyers | 9.1% of sellers
Regional: 7.5% of total | 5.5% of buyers | 9.5% of sellers
Domestic: 81.4% of total | 81.5% of buyers | 81.3% of sellers

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PHAROS VIEW

Rise in M2 drives FCI down in July: The Pharos Financial Conditions Index (FCI) dropped in July, driven by growing broad money supply, which rose by 17.84% y-o-y and 0.24% m-o-m. Factoring in inflation, M2 rose by 3.8% y-o-y, up from 3.5% y-o-y in June. Higher banking sector liquidity, and a flatter inverted yield curve also drove the index down, after it rose last month as the result of tightening monetary policy. You can read the full report here (pdf).

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WTI: USD 69.90 (+0.14%)
Brent: USD 77.72 (+0.10%)

Natural Gas (Nymex, futures prices) USD 2.90 MMBtu, (-0.69%, October 2018 contract)
Gold: USD 1,205.00/ troy ounce (-0.14%)

TASI: 7,915.07 (-0.42%) (YTD: +9.53%)
ADX: 4,939.94 (-0.94%) (YTD: +12.31%)
DFM: 2,841.79 (+0.06%) (YTD: -15.68%)
KSE Premier Market: 5,273.80 (+0.23%)
QE: 9,864.02 (-0.23%) (YTD: +15.73%)
MSM: 4,435.53 (+0.37%) (YTD: -13.34%)
BB: 1,336.74 (-0.10%) (YTD: +1.14%)

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