EARNINGS WATCH-

Egyptian Financial and Industrial Company’s bottom line jumped 640% y-o-y in 2Q 2022 to EGP 263.72 mn, according to the company’s financial statements (pdf). The company’s sales rose 89% y-o-y to EGP 1.11 bn.

MARKET ROUNDUP-

The EGX30 rose 2.2% at today’s close on turnover of EGP 898.48 mn (10.9% above the 90-day average). Foreign investors were net sellers. The index is down 15.8% YTD.

In the green: Madinet Nasr Housing (+7.5%), GB Auto (+5.6%) and Credit Agricole Egypt (+5.4%).

In the red: Juhayna (-2.2%), Oriental Weavers (-1.3%) and Mopco (-0.1%).

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