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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


The Watch - Indices news

Amwal Al Ghad English - 2014-04-23 09:43:31
Beltone Financial Research maintained, in a recent study, Six of October Development & Investment (SODIC) (OCDI.CA) FV at EGP 28.53 per share and a "Hold" recommendation. Beltone stated that SODIC FY2013 results were pressured by one-off cancellations related to previously booked revenues related to Solidere and a sub-development sale in July 2010 and the impairment of Syrian investments worth EGP 478 m. Revenue missed Beltone's estimate of EGP 1,564 m and came in at EGP 1,342 m, down 7.2% y-o-y, and gross profit reached EGP 355 m, implying a GPM of 26.8% versus 36.3% in FY2012. On the bottom-line front, SODIC reported a net loss before minority of EGP 447 m compared to a net income of EGP 257 m in FY2012. Meanwhile, on a normalized basis (removing the impact of the one-off items), revenue would have reached EGP 1,566 m, in line with our estimates, with a GPM of 34.2%. On the operations side, SODIC reported robust performance in FY2013 in terms of sales, collections and deliveries. Beltone believed that FY2014 should be a good year for SODIC following the conclusion of its legal disputes with Solidere and on Eastown, removing the overhang on the stock. Beltone viewed the extension in the development timeframe of Eastown and Westown as extremely positive as it will allow the company to stretch the sales launch over a longer period, allowing for more price increases between phases, thus translating to higher revenues. However, Beltone remain concerned about SODIC’s outlook beyond the delivery of its existing projects given its limited land bank of 7.5 million sqm, which will be completely utilized over the next five years. Management announced on several occasions plans to replenish their land bank, but nothing has materialized to date. Beltone concluded that it believes that real estate companies will continue to benefit in FY2014 from rising inflationary concerns as investors mark the sector as safe haven and in addition the newly proposed investment law that prohibits third parties from appealing contracts between the government and investors will improve the investment climate in Egypt following three years of ongoing litigations, especially in the sector. If the law passes, Beltone believed this will automatically improve the overall sentiment on the real estate sector and trigger a higher upside in our valuations as we cut our discount rates. More»
Amwal Al Ghad English - 2014-04-23 09:41:15
Beltone Financial research maintained, in a recent study, a positive outlook on Eastern Tobacco (EAST.CA). Beltone stated that Eastern Tobacco released strong preliminary indicators for 3Q FY2013/14. Revenue came in at EGP 1,659 m, increasing 23.8% y-o-y and 1.3% q-o-q, beating our estimate of EGP 1,566 m by 5.9% and consensus’ EGP 1,502 m by 10.5%. Net profit after tax reached EGP 333 m, up 31.2% y-o-y and 21.2% q-o-q, beating the estimate of EGP 290 m and consensus’ EGP 312 m. Overall, Beltone maintains a positive outlook on Eastern Tobacco, expecting margins to improve going forward as the company increases its toll-manufacturing agreements, the last of which was signed last week to manufacture cigarettes for Imperial. Given the environment of absence of competition and high barriers of entry which eastern tobacco operates in, Beltone maintained a positive outlook on the company. Beltone recently upgraded its fair value to EGP179.59/share to account for the newly signed toll manufacturing agreement with Imperial. The company is currently in negotiations to finalize other toll-manufacturing agreements, including the one with Japan Tobacco International, which is expected to be signed within the course of a week. Should JTI’s contract materialize, this would automatically raise the fair value to EGP182.22/share. Other upside triggers to Beltone's valuation include the potential returns on freed-up land plots resulting from the move to the new complex as well as the approved, yet not implemented, EGP 0.75/pack increase in the fixed tax rate. Beltone currently forecast revenues will reach EGP 6.3 bln in FY2013/14 and grow by a CAGR of 6.4% over its forecast horizon until FY2017/18. Meanwhile, Beltone estimate net profit will come in at EGP 993 m in FY2013/14 and to grow by a CAGR of 5.5% over the same period. More»
Amwal Al Ghad English - 2014-04-22 07:24:40
The dollar inched up to fresh two-week highs against both the yen and a basket of major currencies on Tuesday, following a subdued session overnight with many global financial centers shut for the Easter long-weekend. "The market is making its way back from holiday mode," said Sue Trinh, currency strategist at RBC Capital Markets in Hong Kong, with Monday's downbeat Japanese trade data still weighing on the yen. The yen suffered a mild setback on Monday after data showed Japan's export growth slowed to its weakest in a year, adding pressure on policy makers to inject more stimulus. China's weakening currency was a focus, she said, after the central People's Bank of China set a lower midpoint of the band within which its currency is allowed to trade. The offshore yuan hit a fresh 14-month low of 6.2335 to the dollar on worries over a slowing Chinese economy and following Beijing's clamp-down on one-direction bets on the yuan's gains since February. More»
Amwal Al Ghad English - 2014-04-17 07:35:39
The yen bounced back from a one-week low against the dollar on Thursday, with investors taking their cues from recently volatile Japanese equities, though activity was thin as investors wound down trading ahead of the Easter holidays. The dollar bought 102.01 yen, down 0.2 percent on the day and moving back toward last Friday's 3-1/2-week low of 101.32 yen. It rose as high as 102.37 yen in the previous session after the Nikkei stock average .N225 rallied on comments from Japanese Finance Minister Taro Aso that the market took to suggest more stock buying by the government's pension fund. The Nikkei was slightly higher in afternoon trade on Thursday. The euro edged down about 0.1 percent against its Japanese counterpart to 141.14 yen, after hitting a two-week high of 141.77 yen on Wednesday. "Instead of being driven by fundamentals, the yen and the stock market are moving in relationship to each other this week, as investors adjust their positions ahead of the Easter holiday," said Ayako Sera, senior market economist at Sumitomo Mitsui Trust Bank.While markets in Tokyo will remain open, some countries around the world would will be closed on Friday ahead of Easter Sunday, and others will remain closed on Monday. This means trading liquidity is likely to be low, market participants said. More»
Amwal Al Ghad English - 2014-04-15 07:46:57
The dollar inched higher versus a basket of major currencies on Tuesday, staying on firm footing after U.S. retail sales data the previous day signaled a brighter outlook for the U.S. economy. U.S. retail sales recorded their largest gain in 1-1/2 years in March, the latest data to suggest growth was set to spring back in the second quarter after an unusually harsh winter. The dollar index edged up 0.1 percent to 79.791 .DXY, holding above Monday's intraday low of 79.562. Against the yen, the dollar edged up 0.1 percent to 101.91 yen, staying above a three-week low of 101.32 yen set on Friday on trading platform EBS. Some caution over tensions in Ukraine may be helping to temper the dollar's gains against the yen, said a trader for a European bank in Tokyo. "I get the sense that people might be taking a sell-on-rallies type of stance," the trader said, referring to market sentiment towards the dollar versus the yen. Investors remained wary of developments in Ukraine, where any escalation might quickly cause risk appetite to evaporate. Armed pro-Russian separatists seized more buildings in eastern Ukraine on Monday, expanding their control after the government failed to follow through on a threatened military crackdown. More»
Amwal Al Ghad English - 2014-04-14 08:03:58
The euro got off to a shaky start on Monday after the European Central Bank fired another warning shot at bullish investors and arrested the single currency's week-long surge, saying it will be forced to ease monetary policy further if the euro keeps going up. In the clearest signal yet that he was unhappy with the direction of the currency, ECB President Mario Draghi on Saturday told a news conference that "a further strengthening of the exchange rate would require further stimulus. ECB policy member Christian Noyer hammered home the message on Monday saying: "The stronger the euro is, the more accommodative policy is needed". Investors took heed in Asian dealings, sending the common currency down broadly. The euro dipped 0.2 percent to $1.3850 after rising almost uninterrupted last week to gain 1.3 percent, its largest weekly gain since September. The common currency slid 0.4 percent to 140.62 yen from levels above 141.00 and reached near one-month lows against the Swiss franc at 1.2135 francs. Further weighing on the euro, Ukraine gave pro-Russian separatists a Monday morning deadline to disarm or face a "full-scale anti-terrorist operation" by its armed forces, raising the risk of a military confrontation with Moscow. More»
Amwal Al Ghad English - 2014-04-10 07:54:01
The dollar hit a three-week low versus a basket of major currencies on Thursday after minutes from the Federal Reserve's March meeting disappointed dollar bulls, while the Aussie dollar surged on data showing solid Australian jobs growth. Minutes of the Fed's March 19 meeting released on Wednesday showed Fed officials had worried the bank's forecasts on interest rates might appear to investors as mapping out a more aggressive cycle of rate hikes. Analysts at JPMorgan said the minutes were taken as dovish by markets, adding they "contained no record of a discussion as to how long it would take between the end of asset purchases and the beginning of rate hikes." The greenback remained on the defensive in the wake of the Fed minutes. The dollar index hit a three-week low of 79.430 .DXY earlier on Thursday, well below a seven-week high of 80.599 set last Friday. It last stood at 79.526, down about 1.1 percent for the week. More»
Amwal Al Ghad English - 2014-03-31 13:18:47
The Egyptian Financial Supervisory Authority (EFSA) approved on Monday a request from Citadel Capital (CCAP.CA) to invite shareholders to subscribe to 728,106,512 remaining secondary shares at EGP 5 par value each. According to the company’s statement, subscription will start on Wednesday, April 2 till Wednesday, April 9. The company’s extraordinary general meeting (EGM) has recently endorsed the second phase of the current capital increase through subscription to remaining secondary shares to raise issued capital to EGP 8 billion from EGP 4.358 billion. Shareholders approved allowing using the company’s liabilities to shareholders via clearance between such liabilities and the value of shares offered for subscription. The EGM also amended the period given for those having the rights for subscription to uncovered shares without pro rata to become not less than three days instead of not more than seven days. Shareholders also approved amending article of incorporation No. 36. More»
Amwal Al Ghad English - 2014-03-29 08:05:07
The dollar edged lower against the euro on Friday while rising against the yen on greater investor risk appetite after comments from a Chinese official indicated the government could implement more stimulus.  China's Premier Li Keqiang sought to reassure global investors that Beijing was ready to support the cooling economy, saying the government had the necessary policies in place and would push ahead with infrastructure investment. The comments helped push the euro up against the dollar while weighing on the safe-haven yen. The euro tends to attract buyers during periods of greater risk.  The increased appetite for risk also showed in a rise in the U.S. stock market, although stocks later pared gains, led by a decline in the biotechnology sector.  Hopes for stimulus out of China ramped up risk appetite in the currency market, said Joseph Trevisani, chief market strategist at WorldWideMarkets in Woodcliff Lake, New Jersey. Traders also said they had doubts as to whether the European Central Bank would implement further monetary easing at its meeting on April 3, despite statements from ECB policymakers on Tuesday hinting at the potential for more easing to prevent deflation. A Reuters poll showed that only two of 72 economists now predict a rate cut from the ECB at its April 3 meeting, versus 26 of 78 who did before last month's meeting.  More»
Amwal Al Ghad English - 2014-03-27 07:23:25
The euro held steady near recent lows versus the dollar on Thursday after comments from European Central Bank officials revived speculation about further monetary easing to stave off potential deflation. The euro traded at around $1.3784, hovering near a low of $1.3749 hit twice in recent days, a break of which will bring the currency to its lowest level since March 6. That was the day when currency posted its biggest jump in the past two months as the ECB refrained from taking any easing steps. The euro's rally went on to a 2 1/2-year high of $1.3967 hit a week later. But speculation of more stimulus was rekindled after influential ECB governing council member and Bundesbank chief Jens Weidmann said on Tuesday that the central bank could exercise several options to temper euro strength and combat deflation. Weidmann said negative interest rates were an option and quantitative easing was not out of the question -- surprising investors given the German central bank has consistently viewed quantitative easing critically. More»