EARNINGS WATCH-

Talaat Moustafa Group Holding reported consolidated net income of 1.56 bn in 1H 2023 , rising 40% y-o-y, according to its ea rnings release (pdf). Revenues climbed 51% y-o-y to EGP 10.71 bn during the period.

MARKET ROUNDUP-

The EGX30 rose 0.8% at today’s close on turnover of EGP 1.78 bn (10.5% below the 90-day average). Foreign investors were net buyers. The index is up 22.3% YTD.

In the green: Ezz Steel (+5.7%), Alexandria Containers and Cargo Handling (+4.2%), and Beltone Financial Holding (+3.9%).

In the red: Orascom Development Egypt (-1.1%), Juhayna (-0.4%), and B Investments (-0.2%).

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