{"id":581905,"date":"2023-02-23T00:00:00","date_gmt":"2023-02-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/"},"modified":"2023-02-23T00:00:00","modified_gmt":"2023-02-23T00:00:00","slug":"what-the-markets-are-doing-on-23-february-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/","title":{"rendered":"What the markets are doing on 23 February, 2023"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Arabian Cement\u2019s<\/span><span style=\"font-weight:700\"> net income <\/span><span style=\"font-weight:700\">grew <\/span><span style=\"font-weight:700\">more than tenfold y-o-y to EGP 359 mn in 2022<\/span><span style=\"\">, <\/span><span>according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Arabian-Cement-BOD-23-2-2023.pdf\" style=\"\">disclosure<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Arabian-Cement-BOD-23-2-2023.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"font-weight:400;\">. Revenues for the year, meanwhile, rose 91% y-o-y to EGP 4.7 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 rose 1.35% at toda<\/span><span style=\"font-weight:700\">y\u2019s close<\/span><span style=\"font-weight:400;\"> on turnover of EGP 1.43 bn (27.8% below the 90-day average). Regional investors were net buyers. The index is up 16.5% YTD.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the green: <\/span><span>Egypt Kuwait Holding - EGP<\/span><span style=\"font-weight:400;\"> (+5.0%), Ezz Steel (+4.2%) and Sidi Kerir Petrochemicals (+4.0%).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the red: <\/span><span>EFG Hermes<\/span><span> (-1.3%), ADIB - Egypt (-1.1%) and Fawry (-1.1%).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arabian Cement\u2019s net income grew more than tenfold y-o-y to EGP 359 mn in 2022, according to a disclosure(pdf). Revenues for the year, meanwhile, rose 91% y-o-y to EGP 4.7 bn. The EGX30 rose 1.35% at today\u2019s close on turnover of EGP 1.43 bn (27.8% below the 90-day average). Regional investors were net buyers. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[1236,68,633,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581905","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-arabian-cement","tag-egx","tag-enterprisepm","tag-go-with-the-flow","wpautop","entry"],"acf":{"mongo_id":"9116b4e6-de09-4659-82f7-fb3e0d094052","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[581889],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.adad8231-7e0d-4bf6-bda3-bcc512c937ad.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What the markets are doing on 23 February, 2023 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the markets are doing on 23 February, 2023\" \/>\n<meta property=\"og:description\" content=\"Arabian Cement\u2019s net income grew more than tenfold y-o-y to EGP 359 mn in 2022, according to a disclosure(pdf). Revenues for the year, meanwhile, rose 91% y-o-y to EGP 4.7 bn. The EGX30 rose 1.35% at today\u2019s close on turnover of EGP 1.43 bn (27.8% below the 90-day average). Regional investors were net buyers. The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-23T00:00:00+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What the markets are doing on 23 February, 2023\",\"datePublished\":\"2023-02-23T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\"},\"wordCount\":90,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Arabian Cement\",\"EGX\",\"EnterprisePM\",\"Go with the Flow\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\",\"name\":\"What the markets are doing on 23 February, 2023 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2023-02-23T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What the markets are doing on 23 February, 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What the markets are doing on 23 February, 2023 - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/what-the-markets-are-doing-on-23-february-2023\/","og_locale":"en_US","og_type":"article","og_title":"What the markets are doing on 23 February, 2023","og_description":"Arabian Cement\u2019s net income grew more than tenfold y-o-y to EGP 359 mn in 2022, according to a disclosure(pdf). 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The company\u2019s revenues rose to EGP 100.4 mn in 2021, up 27.4% y-o-y.Arabian Cement returned to the black in\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551042,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/","url_meta":{"origin":581905,"position":1},"title":"Earnings watch: Arabian Cement","author":"enterpriseam admin","date":"22 May 2022","format":false,"excerpt":"EARNINGS WATCH- Arabian Cement returned to the black in 1Q2022, with its bottom line recording EGP 58.85 mn during the quarter compared to net losses of EGP 6.33 mn in 1Q2021, according to the company\u2019s financials (pdf). The company\u2019s sales rose 145% y-o-y to EGP 1.06 bn in 1Q2022.MARKET ROUNDUP-The\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564153,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement\/","url_meta":{"origin":581905,"position":2},"title":"Earnings watch: Beltone, NBK Egypt, Credit Agricole Egypt, GSK, Obour Land, Arabian Cement","author":"enterpriseam admin","date":"11 August 2021","format":false,"excerpt":"EARNINGS WATCH- Beltone Financial reported net income of EGP 4.7 mn in 2Q2021, up from a loss of EGP 12.1 mn in 2Q2020 and net income of almost EGP 3.8 mn in the first quarter of this year, according to an earnings report (pdf). The company\u2019s revenues reached EGP 95.9\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573721,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/16\/prime-holding-reports-egp-18-mn-loss-arabian-cement-reports-egp-5-64-loss-for-1h2020-ibnsina-pharma-reports-16-growth-in-revenues\/","url_meta":{"origin":581905,"position":3},"title":"Prime Holding reports EGP 18 mn loss, Arabian Cement reports EGP 5.64 loss for 1H2020, Ibnsina Pharma reports 16% growth in revenues","author":"enterpriseam admin","date":"16 August 2020","format":false,"excerpt":"EARNINGS WATCH- Ibnsina Pharma\u2019s net profits dipped 36.8% y-o-y to EGP 38.7 mn in 2Q2020, from EGP 62.2 mn in 2Q2019, according to the company\u2019s earnings release (pdf). Ibnsina reported EGP 4.4 bn in revenues during the quarter, up 16% y-o-y from EGP 3.82 bn. In the first half of\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596220,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/21\/earnings-watch-orascom-development-egypt-arabian-cement\/","url_meta":{"origin":581905,"position":4},"title":"Earnings watch: Orascom Development Egypt, Arabian cement","author":"enterpriseam admin","date":"21 August 2019","format":false,"excerpt":"EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019: Orascom Development Egypt (ODE) doubled its net profits in 2Q2019 to EGP 205.2 mn, up from EGP 101.5 mn in the same period last year, according to an EGX earnings statement (pdf). 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