EARNINGS WATCH-

Misr Fertilizers Production Co. (MOPCO)’s net income came in at EGP 1.65 bn in 2Q 2022, a 19% y-o-y increase, according to the company’s financial statements (pdf). The company’s revenues jumped 106% y-o-y to EGP 4.5 bn in 2Q 2022.

MARKET ROUNDUP-

The EGX30 rose 0.4% at today’s close on turnover of EGP 1.28 bn (37.7% above the 90-day average). Foreign investors were net sellers. The index is down 15.5% YTD.

In the green: Abu Qir Fertilizers (+4.4%), Ibnsina Pharma (+3.2%) and Mopco (+3.1%).

In the red: Orascom Construction (-6.2%), Alexandria Containers (-3.2%) and GB Auto (-1.2%).

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