Al Ahly Pharos openbaar
[search 0]
Meer

Download the App!

show episodes
 
Welcome to our daily podcast featuring the day's top news commentary and technical recommendations delivered to you before the opening bells of the Egyptian Stock Exchange (EGX).Alongside our morning podcasts, we will be publishing a collection of episodes presenting indepth analysis and insights on EGX's equities, all brought to you by Al Ahly Pharos.
 
Loading …
show series
 
We published this morning the earnings expectations for companies under coverage in 2Q2022/FY2022: 1) For 2Q2022, aggregated profits will surge 44% YoY, and remain stable QoQ, 2) For FY2022, aggregated profits will rise 31% YoY, 3) Stocks that will post stand-out results sequentially in 2Q22: HELI, ESRS, IRAX, ETEL, CCAP, 4) Stocks that will witnes…
 
Qatari officials have discussed with the Egyptian government investing USD2-3 billion in the local market, in the form of purchases in company stakes and the real estate sector. The Ministry of Public Enterprise presented HELI's assets with investment opportunities to a delegation of Saudi investors. Prime Minister directed the ministers, the centr…
 
JUFO 1Q22 financial indicators showing a YoY rise in revenues of 29.1% to settle at EGP2,403 mn. Bottom-line for the quarter reached EGP142 mn, +15.4% YoY. JUFO is currently trading at a FY22 P/E of 15.8x and an EV/EBITDA of 5.9x. EGCH released 3Q21/22 net profit after taxes recorded EGP151 million compared to EGP209 million recorded in 2Q21/22 and…
 
Contrary to our expectations, the CBE decided to keep policy rates unchanged, citing slowing global activity, normalization of domestic economic activity and slower pace of increase in domestic inflation. During the visit of Qatari Emir Sheikh Tamim bin Hamad Al Thani to Egypt, discussions with President El Sisi were held including boosting coopera…
 
MPC meets today. We expect a hike of as much as 200bps, as the CBE keeps an eye on inflation and negative real interest rates. Minister of Finance said that Egypt is negotiating with the IMF on Extended Fund Facility (EFF), Standby Credit Facility (SCF), and Policy Coordination Instrument (PCI). Sovereign Fund of Egypt aims to provide attractive in…
 
Egypt and Saudi Arabia signaled their intention to strengthen economic ties during a visit by Saudi Crown Prince Mohammed bin Salman, announcing deals worth USD7.7 billion. The agreements cover key sectors including energy, tech, food, and pharma, including: Ajlan & Bros inked a USD 3.3 bn agreement to build a facility for storing petroleum product…
 
Real estate developers are: 1) not permitted to launch the sale of units before obtaining the ministerial decision approving the masterplan, 2) required to open an independent bank account for the project/phase to be launched, 3) to submit a semi-annual financial report, approved by the developer’s auditor, outlining installments collected from buy…
 
Fitch has cut Egypt’s GDP growth forecast for FY2022/23 to 4.4% from a prior projection of 5.5%. While discussing FY2022/23 budget, Parliament voiced their concerns that the government should rein in its borrowing plans and put a cap on the country’s debt levels. The Suez Canal Economic Zone is working with DP World on a logistics area, that will b…
 
Saudi Crown Prince Mohammed bin Salman is scheduled to visit Egypt, tomorrow, as part of a tour of the region that will also include Jordan and Turkey. The Egyptian Central Depository and Registry will be officially launched in 4Q22, in preparation for the discussions with the Euroclear platform. The government has secured from local farmers around…
 
The Federal Reserve hiked interest rates by 0.75%. Local exchange rate weakened to 18.77/USD during yesterday's trading. Electricity prices for residential consumers will remain unchanged until at least the end of 2022. Trade deficit decreased by 39.7% YoY in March, recording USD2.26 billion. Egypt and Israel will increase gas exports to the EU und…
 
Fed meeting will start today. Consensus expects the Fed to go ahead with a 75-bps rate hike. Joint working committees within the Egyptian Stock Exchange, NBE, BM, and BdC are exploring the listing of 38 affiliated companies. Prime Minister launched a digital platform to discuss the State Ownership Policy Document. Egypt's industrial production fell…
 
Minister of Finance said that Egypt could face an extra USD10.2 billion burden the next fiscal year if wheat and oil prices remain at their current elevated levels. Finance Minister invited South Korean companies to invest in our agriculture, industry, transportation, energy, and water sectors. Minister of Finance said that the current time is not …
 
Annual core inflation rate, which excludes volatile items, recorded 13.3% in May 2022, up from 11.9% in April. CBE might opt for tightening by another 200 bps, for real interest rates. Egypt has paid due debts with a total value of USD24 billion YTD, including USD10 billion in foreign debt, and USD14 billion in foreign portfolio outflows. Russian p…
 
Prime Minister has met with some of the world’s largest asset managers, explaining the government’s privatization plans and promoting the Egyptian economy. The local FX rate weakened yesterday to 18.74/USD. Projected Inflation figures for May are12.8% YoY (+0.5% MoM), as increases in food items slow down. Ministry of Trade has extended by three mon…
 
The global economy may be headed for years of stagflation, the World Bank warned, slashing its 2022 global growth forecast to 2.9% from January’s 4.1%. The World Bank raised its forecast for Egypt's economic growth for the current year to 6.1%, up from 5.9% in its previous forecast, while growth in 2022/23 was revised down by 0.7 ppt to record 4.8%…
 
Net International Reserves registered at USD35.495 billion end of May, down from USD 37.123 billion in April, due to external debt repayments of USD2 billion. Madbouly asked the Finance Ministry to prepare a timeline for stake sales in state-owned firms, and the Planning Ministry to produce a list of assets from which the government will fully exit…
 
GAFI's CEO started a promotional mission to Qatar to discuss pumping new Qatari investments into the Egyptian market. ESRS released solid 1Q22 Net Income after Minority Interest stood at EGP759 million in 1Q22 (+3% YoY, -27% QoQ). The YoY increase in earnings came despite booking EGP1.1 billion of forex losses. ESRS is trading at FY22e P/E of 2.7x …
 
Inflation for May| We expect annual urban inflation to come in at 12.8% in May, as increases in the food items slowed down significantly during the month. Egypt's PMI hit 47.0 in May, up slightly from 46.9 in April, but still below the neutral point of 50. The International Islamic Trade Finance Corporation (ITFC) has raised the ceiling for its fin…
 
Ministry of Finance raised the customs exchange rate to EGP18.64 from EGP17.00, starting June 1st. State grain buyer GASC has purchased 465,000 tons of wheat for USD480/ton including freight. Cabinet discussed several plans to raise institutional investor proportion and public institutional investors' participation in the Egyptian Equity Market. Ca…
 
PHDC achieved strong 1Q22 sales of EGP5.5 billion, up 62.4% y/y. Net profit in 1Q22 grew 44.1% y/y to EGP295.0 million. We remind you that PHDC is targeting FY22 sales of over EGP20.0 billion. PHDC is also planning a EGP1.5-2.0 billion securitization in 4Q22. EFIC released positive 1Q22 consolidated bottom line at EGP236 million (+495% YoY). Higher…
 
MSCI EM Index rebalancing execution will be today, where COMI’s FF goes down, HRHO replaces FWRY in the standard index, EFIH and FWRY get included in Small Cap Index, and PHDC and HELI get excluded. NBE and BM stop offering the 18% one-year CDs, after collecting EGP750 billion into the product and offer a three-year replacement for 14%. The Financi…
 
ADQ will invest USD 10 bn in industrial projects in Egypt, the UAE, and Jordan as part of a partnership signed in Abu Dhabi yesterday, within different sectors including agriculture, pharmaceuticals, minerals, petrochemicals, and textiles. The state plans to sell a 20-25% stake in Egypt Aluminum (EGAL) to a strategic investor. The transaction will …
 
Real GDP growth rate recorded in 9M FY21/22 was 7.8%, recording 5.4% in 3QFY2021/22, with expectations to reach 6.2% in FY21/22. Prime Minister pledged fresh incentives to draw foreign investors into the country for projects including data centers, LNG terminals, telecom towers, oil and gas pipelines, and wind plants. CBE data showed that external …
 
Loading …

Korte handleiding

Google login Twitter login Classic login