Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
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.