Egypt
IN SIGHT
WHAT HAPPENED TODAY?!
Monday, July 01, 2024
Year To Date
11.5368%
Month To Date
3.1331%
OF THE EGX30 INDEX ABOVE THE 30DAYS MOVING AVERAGE
0%
EGX30
27766.27
Year To Date
14.02%
Month To Date
5.03%
OF THE EGX100 EWI INDEX ABOVE THE 30DAYS MOVING AVERAGE
0%
EGX100 EWI
8985.15

TURNOVER

EGP 4397.79 M

Signals an alert if the volumes of EGX100 EWI stocks traded last session exceed the 10-day average, with a minimum turnover of EGP5 million.
Investor Types

BY TYPE

Buyers
69.08%
EGP 233.69M

Net Buyers


Sellers
30.92%
EGP -158.05M

Net Sellers


BY Nationality

Buyers
85.07%
EGP 7.89M

Net Buyers
7.33%
EGP 67.75M

Net Buyers
Sellers
7.6%
EGP -75.64M

Net Sellers


Market Buzz

TAQA Powers Up

Arabian Power Company has signed an agreement with the Egyptian government to establish a green hydrogen and ammonia production complex using renewable energy. The project, costing $3.4 billion, will be implemented in two phases, each with 500 MW electrolytic capacity, using over 1.3 GW of solar and wind energy. Located near Ain Sokhna in the Suez Canal Economic Zone, the complex is expected to produce over 350,000 tons of hydrogen annually per phase. This announcement has caused an increase in the share price by almost 7%.
Arbitrage Monitor

Buy Local
Sell Foreign

Sell Local
Buy Foreign

Implies the spread between both listings, including an approximate cost for the trades.
NEXT SESSION'S OUTLOOK
Daily Sentiment Monitor

Watch Out For...

  • Egypt and the EU inked a EUR1bn agreement in macro-financial assistance during 2H24.

  • Egypt signed 29 agreements and MoUs with EU-affiliated entities during the Egypt-EU investment conference worth a total of EUR49bn.

  • The IMF Executive Board is scheduled to meet on 10 July to discuss the third review of Egypt’s $8bn loan program.

  • The government has reportedly decided to postpone any electricity price hikes until September.

  • Sidi Kerir Petrochemicals (SKPC EY) announced resuming gas supplies on Thursday shortly after halting production for a couple of days for the second time in June.

  • The IFA advisor concluded a weighted average fair value of EGP52.38/share for El Sewedy Electric (SWDY EY) based on a 70:30 DCF-multiples weighting.

  • Egypt’s net foreign assets recorded a surplus of $14.3bn at the end of May, up from a deficit of $3.7bn in April.

  • The European Bank for Reconstruction and Development (EBRD) will provide CIB (COMI EY) with $60mn for on-lending to local women-led businesses and green investments.

  • The Ministry of Trade and Industry has extended Egypt’s sugar export ban for another 3 months.

The Weekly Calendar
WEEK 30 JUN - 04 JUL

Sunday

Pyramisa Extraordinary Shareholder Meeting - Reviewing Agenda Items
Prime Holding Shareholder Meeting- Reviewing Agenda Items

Monday

Maridive Shareholder Meeting - Reviewing Agenda Items

Tuesday

Wednesday

Goldentex Shareholder Meeting - Reviewing Agenda Items
Goldentex Extraordinary Shareholder Meeting - Reviewing Agenda Items
Egyptian Resorts Shareholder Meeting - Reviewing Agenda Items
AELOAD Shareholder Meeting - Reviewing Agenda Items

Thursday

Speed Medical Shareholder Meeting - Reviewing Agenda Items

Beltone Trading, Beltone Holding, Nile City Towers, 2005A Corniche El Nil, Ramlet Boulaq, Cairo, 11221, Egypt

beltonetrading@beltoneholding.com

https://www.beltoneholding.com/

Tel: +20 (0)2 2461 6300 | Fax: +20 (0)2 2461 9850

Important Notice and Disclosures

1. Author, Regulator and Responsibility

This document has been issued by Beltone Securities Brokerage S.A.E (“BSB”) a joint stock company incorporated under the laws of Arab Republic of Egypt (“Egypt”) and authorized and regulated by the Financial Regulatory Authority (“FRA”) to carry on financial services through the Egyptian Exchange (“EGX”).

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