Pre-Trading Thoughts

Themes in Focus and Key Beneficiaries in 2022: Highest recovery in 2022 YoY earnings (ABUK), Inflation pick-up relative to last two years (COMI), Interest rates might rise (EMFD), Exchange rate might face pressure (ABUK), Water, transportation, electricity infrastructure spending, Reconstruction of neighboring countries (ORAS, SWDY), Digital transformation in Egypt (EFIH, FWRY), Tourism rebound (ORHD), Commodity price boom (ABUK), Potential Free zone status and tax reliefs (EKHO), Expansion plans come on stream/ generate cash flows (CIRA, EFID), Cement prices versus coal costs (MCQE), Depressed multiples in the banking sector and NBFIs (COMI, HRHO),  Conflict/Stock Overhang resolution (JUFO, ADIB), Export incentivizing (ORWE), Foreign investor re-entry into equity markets (COMI), Asset monetization stories (HELI)Egypt's Purchasing Managers Index PMI remained flat in November at 48.7CBE will issue USD1 bn of one-year USD-denominated treasury billsListed companies undergoing liquidations can only be traded on Sundays and WednesdaysORAS BOD proposed the acquisition of the Sawiris family-owned leading equipment importation, distribution and services business, for a total cash consideration of USD 35.0 million (USD0.3 or EGP4.8 per ORAS share)ORAS approved an interim dividend of USD 0.2313 per share (DY of 5.1%)SWDY has pledged USD3 billion of investments in Tanzania in the electricity and infrastructure sectors[Correction] Elsewedy Electrometer is not a subsidiary of Elsewedy Electric (SWDY); the listed entityGeneral Authority for Industrial Development said the deadline to withdraw the conditions handbook for the new tobacco manufacturing license is extended until December 9, New amendments made by the authority are not announced yetEFID has started production operations in its new factory in Morocco, with investments of EGP200 million for 3 production lines.JUFO has appointed Ahmed El Wakil as its independent non-executive chairman to replace Mohamed El DogheimAl Rajhi Investment Holding Company is considering an acquisition in the food and retail sector in the Egyptian marketVodacom’s CEO noted that Vodafone Egypt will remain treated as a separate entity post the completion of acquiring Vodafone’s Group 55% stake in Vodafone Egypt; Vodafone Egypt will benefit from Vodacom’s fintech platforms, which include Vodalend, Vodasure, and Vodapay with plans as well to launch “M-PESA”, that allows money transfer through mobilesHELI reported 1Q21/22 net loss of EGP75.2 million, compared to a net loss of EGP41.2 million in 1Q20/21SPMD denied news articles that stated it offered to pay EGP20 million in fines to FRA against incorrect disclosuresBINV announced the establishment of its specialized healthcare company, B Healthcare Investments, with an authorized capital of EGP1 billion; First acquisition is a 51% stake in The Egyptian IVF CenterCBE approved the capital increase of CIEB to EGP5 billion pounds, via an increase of EGP3.756 billion through bonus shares; A catalyst for market cap rerating