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Thursday, 11 October 2018

The Market Yesterday

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Pharos Holding -

EGP / USD CBE market average: Buy 17.85 | Sell 17.95

EGP / USD at CIB: Buy 17.86 | Sell 17.96
EGP / USD at NBE: Buy 17.78 | Sell 17.88

EGX30 (Wednesday): 13,621 (+0.2%)
Turnover: EGP 702 mn (3% below the 90-day average)
EGX 30 year-to-date: -9.3%

THE MARKET ON WEDNESDAY: The EGX30 index ended Wednesday’s session up 0.2%. CIB, the index heaviest constituent ended up 0.8%. EGX30’s top performing constituents were Emaar Misr up 5.2%, Arab Cotton Ginning up 4.0%, Egyptian Resorts up 3.1%. Yesterday’s worst performing stocks were Palm Hills down 5.9%, AMOC down 2.6%, and Madinet Nasr Housing down 2.0%. The market turnover was EGP 702 mn, and foreign investors were the sole net buyers.

Foreigners: Net Long | EGP +72.8 mn
Regional: Net Short | EGP -62.4 mn
Domestic: Net Short | EGP -10.5 mn

Retail: 43.6% of total trades | 40.2% of buyers | 47.0% of sellers
Institutions: 56.4% of total trades | 59.8% of buyers | 53.0% of sellers

Foreign: 35.4% of total | 40.1% of buyers | 30.7% of sellers
Regional: 12.0% of total | 8.0% of buyers | 16.0% of sellers
Domestic: 52.6% of total | 51.9% of buyers | 53.3% of sellers


Rises in fruit and vegetable prices are behind the rise in monthly headline inflation in September, says Pharos Holdings. The month-on-month increase in inflation is a “temporary one and seasonal, which happens occasionally when the agricultural crop is spoiled.” In this case, tomato and potato harvests were affected, pushing up their prices by 35% m-o-m and 18% m-o-m, respectively. Pharos sees the annual inflation rate accelerating to 15.7% in 2QFY2018-19 and 15.8% in 3Q18-19, from 13.9% in 1Q18-19 on the back of seasonal factors that affect highly volatile items. You can view the full report here (pdf).


WTI: USD 73.12 (-2.45%)
Brent: USD 82.97 (-2.39%)

Natural Gas (Nymex, futures prices) USD 3.27 MMBtu, (+0.21%, Nov 2018)
Gold: USD 1,195.30 / troy ounce (+0.32%)

TASI: 7,834.79 (-0.88%) (YTD: +8.42%)
ADX: 5,014.53 (-0.12%) (YTD: +14.01%)
DFM: 2,810.63 (+1.18%) (YTD: -16.60%)
KSE Premier Market: 5,288.77 (-0.3%)
QE: 9,964.37 (+1.26%) (YTD: +16.91%)
MSM: 4,508.67 (-0.19%) (YTD: -11.58%)
BB: 1,320.80 (-0.26%) (YTD: -0.82%)

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