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