The EGX30 rose 1.6% at today’s close on turnover of EGP 1.83 bn (20.7% above the 90-day average). Local investors were net buyers. The index is up 7.12% YTD.

In the green: Orascom Development Holding (+8.8%), Orascom Investment Holding (+3.4%) and Cleopatra Hospital (+3.3%).

In the red: MM Group (-1.6%) and El Sewedy Electric (-0.3%).

EARNINGS WATCH- The Egyptian International Pharmaceutical Industries’ (EIPICO) net profits fell 27% in 2020 to EGP 486.5 mn, compared to EGP 670.6 mn the previous year, the company said in a financial release (pdf).

The Egyptian Financial & Industrial Company (EFIC) saw a y-o-y dip in net profits worth 37.6% in 2020, falling to EGP 126.9 mn compared to EGP 203.6 mn in 2019, the company said in an earnings release (pdf).

Mansoura Poultry’s net profits increased over 6000% in 2020 to EGP 20.2 mn, compared to EGP 326k in 2019, the company said in an earnings statement (pdf).

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