EARNINGS WATCH-

Pharma company GlaxoSmithKline (GSK) saw its bottom line rise to EGP 869.2 mn in 1Q2022 up from EGP 2.7 mn in 1Q2021, according to the company’s financials (pdf). Sales also rose during the period, increasing 164.3% y-o-y to EGP 370.2 mn.

MARKET ROUNDUP-

The EGX30 fell 0.3% at today’s close on turnover of EGP 683 mn (18.2% above the 90-day average). Foreign investors were net sellers. The index is down 16.5% YTD.

In the green: CIRA (+2.4%), Egypt Kuwait Holding-EGP (+2.2%) and MM Group (+1.9%).

In the red: TMG Holding (-3.3%), Credit Agricole Egypt (-2.1%) and e-Finance (-1.9%).

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