SHUAA Capital psc announced, on Sunday, the expansion of its Cairo-based subsidiary SHUAA Securities – Egypt.
According to the press statement, the firm’s rapidly evolving Research division has devised a unique multi sector-specific approach to stock coverage and initiation, with a targeted scope of covering all sectors listed.
SHUAA Securities – Egypt believes that despite the brunt of a general risk-off sentiment
towards emerging markets, including Egypt in 2018, going forward, 2019 will likely be a balanced play on both the macro and the equity fronts.
“While key macro indicators, such as inflation, will play a key role in setting the scene for economic growth recovery and expansion, certain company-specific factors will drive stock prices,” the statement added.
Amr Hussein Elalfy, CFA, SHUAA Securities – Egypt’s Head of Research, explains, “In terms of research coverage, we do our best to track economic and corporate events that drive the market in general and stocks in specific as our coverage expands, targeting up to thirty Egyptian stocks by year-end. Meanwhile, we scan Egyptian stocks using a bottom-up approach, which we believe can help us spot under-researched and neglected stocks that are often undervalued to eventually see their intrinsic value unlocked. With all that in mind, we call this year (2019) ‘a year of selectivity’ as explained in more details in our annual strategy note published in January.”