Pre-Trading Thoughts

Pressure points for Egypt from a potential Russian Ukrainian war include oil prices, wheat prices, and tourism arrivals. In global conflict situations, AMOC is a stock that rises because of oil prices and spreads, and CCAP should join hands (ERC). The overall budget deficit in 1HFY21/22 increased to EGP285 billion, equivalent to 3.99% of GDPTrade deficit decreased by 63.1% YoY during November 2021, recording USD1.19 billion, on an 80.6% YoY growth in exports recording USD4.48 billionTrading on the Egyptian Commodity Exchange begins in mid-April 2022Rising tensions between Russia and Ukraine are causing “uncertainty” in the wheat market; Minister of Supply studying hedging against rising wheat pricesEl-Sisi directed the government to continue the public offering program HRHO's BoD agreed to proceed with appointing an international financial advisor and a local legal counsel for the assessment of the potential offer by FABORHD has denied media reports that it is seeking a USD200.0 million loanEFID is expanding its biscuits segment with the launch of "Oniro Mini Lava" at a retail price of EGP 3 per pack; EFID is currently trading at a FY22 P/E of 13.8x and an EV/EBITDA of 7.9xTALM announced that Nahda University in Beni Suef has received presidential approval to launch the two new faculties of Arts and Architecture with new intake quota of 200 students each but add 2,000 seats to NUB’s licensed capacityDSCW's BoD approved a capital increase of EGP265 million, to reach EGP371 million; Stock price performance and FV will be negatively impacted