Commodity Trends and Egypt Equity Correlations 3Q19
Mixed bag for consumer stocks but weak for oil, fertilisers, and chemical producers
Alyaa Stohy
109 Articles
Latest by Alyaa Stohy
EFG Hermes successfully concludes advisory on GBP 288m IPO of Helios Towers on the London Stock Exchange
Helios Towers is EFG Hermes’s fifth IPO on the London Stock
Jaz Hotel signs two management agreements with Sharm Dream, Al Fayourz
Sharm Dreams Hotel to generate EGP 2bn of revenues, Al Fayourz resorts to output EGP 1.5bn
Pharos expects inflation should end 2019 with an average of 8.9% YoY
Naeem: the inflation reading adds further room to the CBE to continue on its path of monetary easing
Lower inflation and interest rates herald green week on EGX
Market lack of response to lower operating costs and lower gas and gasoline prices adds some caution to the upward outlook
Emaar, BPE Partners, and SODIC shows interest in managing HHD
The company has seen great interest from real estate developers, and the prospectus to be issued in December, says El-Deeb
Egypt’s IPF approves insurance coverage for listed firms on EGX
Omran said the IPF will provide insurance coverage of the actual financial loss of member clients in the companies operating in the field of securities and financial instruments against non-commercial risks
Ezz Steel, EZDK among top beneficiaries from gas price decline
EGAL saves about EGP 31m in production costs following gas price fall
ERC is planning to launch real estate development projects in 4Q 2019
Company estimates that Bay Village and Bay Condos will be completely delivered by 2023
EGX rises 3.3%, supported by Egyptian and foreign purchases
In a clear turn of events, the EGX decided to suspend trading on 71 shares for 10 minutes, but this time because of the proportion of their gains exceeded the 5% barrier, unlike last week, when trading was suspended due to losses.
Qalaa Holding records 8% y-o-y climb in revenues to EGP 3.49bn
Qalaa Holdings is a company that works in energy, cement, agrifoods, transportation and logistics, mining, and printing and packaging.
Domty signs two loans of EGP 100m, EGP 40m from CIB
The production capacity of the new line will be 270,000 pieces a day. Scheduled to start operation in February 2020, the new line will be Domty’s third bakery production line.
End of political tensions, interest cut boost EGX’s gains this week
Lower interest rates will encourage investment borrowing, says Abu Basha
Recent political tensions bring January 2011 scenario to mind at EGX
MPC meeting will end the bleeding of the stock market, says HC
Heliopolis Company for Housing & Development prepares short list of qualified investors to handle company management
Sending invitations to developers interested in management this week, prospectus to be offered in October, says El-Deeb
EGX indexes bleed due to “Friday disruptions” in Egypt
First time to suspend trading in the EGX 100 since 2016
EGX expected to recover during this week’s trading sessions
The significance of the support level of 14,800 lies in the fact that it represents the previous two weeks’ low, and the neckline of a bearish short-term pattern. “Therefore, we will adopt a conservative viewpoint as long as the indices keep trading below the aforementioned level until the market proves the opposite,” Othman said.
EFIC plans to dedicate 1,000-tonne production line for exporting by early 2020
Naeem raises target price on EFIC to EGP 13.4/share, upgrade its recommendation to Buy
Eight companies plan to issue securitisation bonds in upcoming period
NUCA, Palm Hills, Raya Holding closet to implementation
MTI to acquire new indirect stakes in Masary, Bee, to merge 2 companies in H1of 2020
Ebtikar increased its stake in Masary to reach 54.9% by acquiring 9.1%
Egytrans delivers solid performance recording 5x market growth in 1H19
The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) lost 760.1 bps to reach 19.6% vs. 27.2% for 1H19 and 1H18, respectively, affected by the increase in operating costs by 49% in 1H19.
MEDAF plans to acquire 50% of E-payment market, penetrate African markets
Abou-El-Fotouh confirmed that MEDAF Investments has ambitious plans and aims to expand inside and outside Egyptian markets. He said, “The company is currently evaluating several investment opportunities, the details of which will be announced in due course.”
CIAF Leasing to launch $50m worth Sukuk in December
MERIS Ratings hired to rate Sukuk, promotional campaigns to launch soon, says Mohamed
Securities lending to be conducted through custodians under MCDR system: Abdelbary
New short Selling mechanism to be launched before end-November
GB Auto aims to sell 5,000 Arrizo cars, introduce new models in 2020
Consumer is key in digital transformation process; most important preparations are raising awareness and e-signature: Valavanis
Helnan targets signing 4 hotel management contracts in Egypt before year-end
The Group’s President Enan El-Galaly told Daily News Egypt that two of the planned four contracts are worth EGP 150-170m, one valued at EGP 120m and the other is worth EGP 30-50m. He noted that most of the new contracts are for hotels in the Red Sea area.
Financial evaluation for e-finance listing to be completed in October: Sarhan
e-finance board approves capital increase of EGP 300m
Egypt to establish 7 technological parks with EGP 1bn investments: ICT Minister
Ministry aims to increase ICT contribution to GDP to reach 8%, says Talaat
Non-bank financial activities use financial technology to shape new future
The FRA’s plan includes proposing the appropriate legislative amendment to adopt electronic means as an approved means of notification, and deal with the entities subject to the FRA’s control
Sarwa Capital to close 2nd phase of securitisation NUCA bonds this month
Sukuk will attract new blood, raising awareness is challenging, says El-Sawy