MARKET NEWS-

QNB Alahli’s bottom line increased 12% y-o-y in 1Q2022 to EGP 2.21 bn, according to the bank’s earnings release (pdf).

Telecom Egypt will pay out dividends to its shareholders on 26 April at a price of EGP 1 per share, the company announced (pdf).

MARKET ROUNDUP-

The EGX30 rose 1.6% at today’s close on turnover of EGP 831 mn (13.8% below the 90-day average). Regional investors were net buyers. The index is down 8.8% YTD.

In the green: CIRA (+9.0%), Fawry (+4.9%) and Ibnsina Pharma (+4.4%).

In the red: ADIB Egypt (-4.2%), Eastern Company (-2.6%) and Rameda (-1.9%).

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