EARNINGS WATCH-

Talaat Moustafa Group reported EGP 2.23 bn in 2022 net income, rising 25% y-o-y, according to the company’s financials (pdf). Revenues for the year increased 29% y-o-y to EGP 19.87 bn.

MARKET ROUNDUP-

The EGX30 fell 0.2% at today’s close on turnover of EGP 2.5 bn (29.8% above the 90-day average). Foreign investors were net sellers. The index is up 19.8% YTD.

In the green: Alexandria Mineral Oils Company (+7.3%), Elsewedy Electric (+5.9%) and Qalaa Holdings (+3.8%).

In the red: Rameda Pharma (-2.7%), Juhayna (-1.8%) and Telecom Egypt (-1.7%).

Tags: