MARKET WATCH-

Abu Qir Fertilizers and Chemicals Industries Company’s net income rose 132.9% y-o-y to EGP 4.5 bn in 4Q 2022, according to the company’s financials (pdf). The company’s revenues for the quarter increased 79.4% y-o-y to EGP 6.4 bn.

MARKET ROUNDUP-

The EGX30 fell 0.4% at today’s close on turnover of EGP 2.3 bn (22.4% above the 90-day average). Regional investors were net sellers. The index is up 17.9% YTD.

In the green: EFG Hermes (+2.5%), Abu Dhabi Islamic Bank (+1.6%) and Sidi Kerir Petrochemicals (+0.9%).

In the red: Credit Agricole (-4.6%), Fawry (-2.4%) and Heliopolis Housing and Development (-2.1%).

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