EARNINGS WATCH-

Sidi Kerir Petrochemicals (Sidpec) reported a 65.4% y-o-y rise in its bottomline to EGP 251.07 mn in 1Q2022, according to its financials (pdf). Revenues jumped 61% to EGP 2.11 bn during the quarter.

The EGX30 fell 0.7% at today’s close on turnover of EGP 653 mn (22.6% below the 90-day average). Foreign investors were net sellers. The index is down 15.6% YTD.

In the green: Palm Hills Development (+5.5%), Cleopatra Hospital (+4.6%) and Rameda (+1.9%).

In the red:Ibn Sina Pharma (-4.3%), MM Group (-3.8%) and GB Auto (-3.7%).

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