Download EGYPT WEEKLY MARKET REVIEW Market Performance Egypt’s Business Headlines 8-14 November, 2009

Powered by NOOZZ.COM
Volume I—Issue 41
8-14 November, 2009
EGYPT WEEKLY MARKET REVIEW
Financial
2,886.40
-2.06
Manufacturing
1,785.06
1.86
273.75
-2.55
Services
Exchange Rates
Egyptian Pound (EGP) per:
U.S Dollar
5.456
Euro
8.140
Pound Sterling
9.100
Japanese Yen
6.089
Swiss Franc
5.394
Exchange Rate Watch
USD/EGP 13-11-2009
Egypt’s Top 5 Gainers%
Last
%Chg.
Suez Bag Company
Arab Real Estate Investments
CES
Suez Cement Company
Egypt for Build. Materials
647.45
49.70
2.26
25.60
39.44
23.21
40.53
22.20
33.36
21.20
Nov‐09
2.49
Sep‐09
%Chg
Jul‐09
Close
940.86
Construction
May‐09
Sector Indices
Jan‐09
-8.62
Mar‐09
1,445.20
Prime General
EGX 30 Index
Sep‐08
2.62
Nov‐08
289.80
Jul‐08
HC Market
14000
12000
10000
8000
6000
4000
2000
0
May‐08
2.72
Jan‐08
612.39
Mar‐08
Hermes
EGX 30 Index 12-11-2009
Sep‐07
2.31
Nov‐07
6,703.04
Jul‐07
EGX 30
Market Performance
May‐07
%Chg
Jan‐07
Close
Mar‐07
Egypt Market Indices
Close
Open
High
Low
Prev. Close
%Chg
Yr. H
Yr. L
6,703.04
6,706.08
6,891.98
6,666.35
6,551.65
2.31
7,279.91
3,380.33
Egypt’s Top 5 Losers%
Last
%Chg.
Suez Canal Automotive Rep
Moquette MAC
62.44
-29.32
34.54
-17.27
Misr Chem. Ind. Co.
Helwan Portland Cement
Ismailiya Food
12.91
-7.98
30.23
-7.67
60.02
-6.67
Egypt’s Business Headlines
Egypt's Pioneers, Beltone to have $5.3 bln under mgmt
The merger of Egypt's Pioneers Holding and investment bank Beltone Financial will create a firm
with 29.2 billion Egyptian pounds ($5.34 billion) under management, the two firms said on Tuesday. Financial services firm Pioneers said on Sunday it would buy Beltone Financial by issuing 100
million new shares, valuing the target at 777 million pounds.
5.8
5.6
5.4
5.2
5
Egypt jobless rate 9.26 pct, up on year ago
CCFC Team
The rate of unemployment in Egypt stood at 9.26 percent in the third quarter of 2009, rising from
8.55 percent in the same three-month period of 2008. The world economic downturn has hurt
Egypt's key revenue earners such as tourism, Suez Canal receipts and remittances. Egypt weathered the crisis relatively well compared to others. Although economic growth has fallen from more
than 7 percent before the downturn, it is still running at about 5 percent. However, officials say
Egypt needs to create some 650,000 jobs a year and aims to get growth back to around 7 %.
Director: Dr. Eskandar Tooma
Editor in Chief: Shaheen Pasha
Program Executive: Ghada El Eraqi
Research Associate: Diana George
Research Associate: Mostafa Ashour
For more Information regarding
CCFC Services contact us on:
+(202) 2615-3441/3469/3472 or
[email protected]
Urban consumer inflation in Egypt rose to 13.3 percent in the year to October compared to 10.8
percent in September. The consumer price index for urban areas was 144.4 in October 2009 compared to 127.5 in October 2008, a rise of 13.3 percent. The urban inflation figure had been well
above her forecast of 11.5 percent. The central bank started publishing its core inflation figure last
month of 6.5% compared to 6.3% in September. Analysts said its publication would provide additional guidance on central bank monetary policy moves.
Egypt urban inflation up at 13.3 pct, above forecasts
Disclaimer: This newsletter has been prepared by Citadel Capital Financial Center staff and undergraduate students at the American
University in Cairo. This review is based on information available to the public. This review is not an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned. The information and opinions in this review were prepared by Noozz from
sources we believe to be reliable and information available to the public. Noozz and CCFC makes no guarantee or warranty to the
accuracy and thoroughness of the information mentioned in this review and accepts no responsibility or liability for losses or damages
incurred as a result of opinions formed and decisions made based on information presented in this review. Noozz and CCFC does not
undertake to advise you of changes in opinion or information.
Powered by NOOZZ.COM
Volume I—Issue 41
8-14 November, 2009
EGYPT WEEKLY MARKET REVIEW
Regional Market Indices
Close
%Chg
Bahrain
1,468.77
-2.55
Kuwait
7,334.10
-3.76
Oman
6,333.07
-0.57
Qatar
6,953.34
-0.73
Saudi Arabia
6,350.89
-0.86
Dubai
2,097.63
4.76
Abu Dhabi
2,920.14
1.63
Commodities
Buy/Bid
Brent Crude
Sell/Ask
75.000
75.020
Gold
Silver
1,118.600
17.410
1119.600
17.460
Platinum
1,390.000
1,395.000
Palladium
353.500
358.500
World Indices
Regional Business Headlines
Israel Oct inflation seen moving up to 3 pct
Israel's consumer price index is expected to have risen modestly in October, taking annual inflation to the top of the official target band at 3 percent. Economists also expect inflation to move
toward a 4 percent annual rate by the end of 2009. The CPI is forecast to have edged up 0.2 percent in October from September. That would push annual inflation to 3 percent from 2.8 percent
in September, when the CPI dipped 0.3 percent for its first monthly drop in seven months
Iran inflation drops to 7.6 pct yr/yr in Oct
The official annual rate in the world's fifth-largest oil exporter slid from 9.3 percent in September
and has fallen from a peak of nearly 30 percent late last year. The government blames inflation on
international energy and food price rises that peaked during 2008 and points to a falling trend
since late last year. Iran's parliament has approved a plan that would gradually cut subsidies on
food and energy by 2015.
Jordan's foreign exchange reserves up 31% since Jan 09
Jordan's net foreign reserves rose to $10.153 billion at the end of September compared with the
start of the year as assets in dinar-denominated savings grew. A $2 billion debt buyback in March
last year brought reserves down to $5.2 billion. Bankers attribute the rise in foreign reserves
mainly to the Central Bank of Jordan's (CBJ) policy of allowing a wider interest rate differential
against the dollar in favor of the dinar that had encouraged banks and depositors to keep funds in
dinars.
Close
%Chg.
DJIA
10,270.47
2.64
World Business Headlines
Nasdaq
2,167.88
25.96
Euro zone economy jumps out of recession in Q3
S&P500
1,093.48
2.52
DAX Index
5,686.83
3.76
FTSE 100
5,296.38
3.33
Nikkei 225
9,770.31
0.54
The euro zone economy jumped out of recession, but with slightly less spring than expected after
the area's top three economies fell short of market forecasts. Gross domestic product in the 16
countries using the euro rose 0.4 percent quarter-on-quarter after five consecutive quarters of
shrinking output, but was 4.1 percent lower year-on-year. Germany, France and Italy all reported a
third-quarter increase in economic output, but all less than expectations.
CAC 40 Index
3,806.01
2.62
U.S. trade gap widens 18.2 pct in September
Hang Seng
22,553.63
5.00
For more Information regarding
Noozz. Services contact us on:
+791 4 363 0479
or
[email protected]
The U.S. trade deficit widened by 18.2 percent, the most in more than 10 years, as oil prices rose
for the seventh straight month and imports from China bounded higher, a U.S. government report
showed on Friday. The monthly trade gap grew to $36.5 billion, from a slightly revised estimate of
$30.8 billion in August. Both U.S. exports and imports had their best month since December 2008.
But in a sign of renewed U.S. economic growth, imports grew 5.8 percent in September, the biggest monthly gain since March 1993, while exports rose 2.9 percent.
Austrian Q3 GDP up 0.9 pct q/q – WIFO
Austria's economy grew for the first time in over a year in the third quarter, as exports and the
construction sector picked up, researcher WIFO said in its flash gross domestic product (GDP)
estimate on Friday. The economy grew by 0.9 percent on the quarter compared to a revised 0.5
percent decline in the second quarter. The main impetus comes from exports and construction
investment but production is still considerably lower compared to a year ago.
Disclaimer: This newsletter has been prepared by Citadel Capital Financial Center staff and undergraduate students at the American
University in Cairo. This review is based on information available to the public. This review is not an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned. The information and opinions in this review were prepared by Noozz from
sources we believe to be reliable and information available to the public. Noozz and CCFC makes no guarantee or warranty to the
accuracy and thoroughness of the information mentioned in this review and accepts no responsibility or liability for losses or damages
incurred as a result of opinions formed and decisions made based on information presented in this review. Noozz and CCFC does not
undertake to advise you of changes in opinion or information.