{"id":584662,"date":"2023-04-03T00:00:00","date_gmt":"2023-04-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/03\/what-the-markets-are-doing-on-3-april-2023\/"},"modified":"2023-04-03T00:00:00","modified_gmt":"2023-04-03T00:00:00","slug":"what-the-markets-are-doing-on-3-april-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/03\/what-the-markets-are-doing-on-3-april-2023\/","title":{"rendered":"What the markets are doing on 3 April, 2023"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARKET NEWS-<\/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\">Ezz Steel\u2019s net income rose 23.2% y-o-y to EGP 6.6 bn in 2022<\/span><span style=\"\">, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EzzSteel2022financials_108.pdf\" style=\"\">EGX<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EzzSteel2022financials_108.pdf\" style=\"\"><\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EzzSteel2022financials_108.pdf\" style=\"\">disclosure<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EzzSteel2022financials_108.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"font-weight:400;\">. The company\u2019s revenues, meanwhile, rose 23.8% y-o-y to EGP 84.0 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:700\">OFH to carry out capital reduction:<\/span><span style=\"\"> Orascom Financial Holding\u2019s (OFH) board of directors has<\/span><span> agreed to reduce the company\u2019s share capital to EGP 1.49 bn from EGP 1.63 bn, while maintaining the shares\u2019 nominal value at EGP 0.31 apiece, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/OFH-capitalreduction-April2023_107.pdf\" style=\"\">an EGX<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/OFH-capitalreduction-April2023_107.pdf\" style=\"\">disclosure<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/OFH-capitalreduction-April2023_107.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"font-weight:400;\">. The company intends to carry out the capital reduction by canceling treasury shares that have been purchased three or more months ago, which constitute 8.5% of the company\u2019s total issued shares. <\/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\">Telecom Egypt is paying out a dividend of EGP 1.25 per share<\/span><span style=\"\"> to eligible shareholders on its<\/span><span> 2022 earnings, the company said in a <\/span><span>statement <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/Corporate_Newsbdf0d27f-61f1-4c02-abf5-4f5b8e9e6cab_109.pdf\" style=\"\">(pdf)<\/a><\/span><span>. The payment will be made on 20 April, according to an emailed <\/span><span>statement<\/span><span style=\"font-weight:400;\">. <\/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\">Egypt Kuwait Holding (EKH) is paying out a dividend of USD 0.11 per share<\/span><span style=\"\"> to eligible<\/span><span> shareholders on its 2022 earnings, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EKH-2022dividends_110.pdf\" style=\"\">an EGX<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EKH-2022dividends_110.pdf\" style=\"\">disclosure<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/EKH-2022dividends_110.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"font-weight:400;\">. The price represents 44% of the shares\u2019 nominal value.<\/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;\">MARKET ROUNDUP-<\/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\">The EGX30 rose 2.2% at today\u2019s close<\/span><span style=\"font-weight:400;\"> on turnover of EGP 2.4 bn. Foreign investors were net buyers. The index is up 16.8% 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>GB Auto<\/span><span style=\"font-weight:400;\"> (+9.4%), Qalaa Holdings (+8.8%) and Abu Qir Fertilizers (+6.8%).<\/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>Taleem<\/span><span> (-3.0%), CIRA Education (-1.5%) and Juhayna (-0.4%).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARKET NEWS- Ezz Steel\u2019s net income rose 23.2% y-o-y to EGP 6.6 bn in 2022, according to an EGXdisclosure(pdf). The company\u2019s revenues, meanwhile, rose 23.8% y-o-y to EGP 84.0 bn. OFH to carry out capital reduction: Orascom Financial Holding\u2019s (OFH) board of directors has agreed to reduce the company\u2019s share capital to EGP 1.49 bn [&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":[68,1668,633,589,642,553,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584662","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-egx","tag-egypt-kuwait-holding","tag-enterprisepm","tag-ezz-steel","tag-go-with-the-flow","tag-orascom-financial-holding","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"40346565-9614-4ca2-b007-0809e96a124a","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[584648],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.7d492857-6ec2-4fa8-a1a3-f673abd5732e.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 3 April, 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\/04\/03\/what-the-markets-are-doing-on-3-april-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 3 April, 2023\" \/>\n<meta property=\"og:description\" content=\"MARKET NEWS- Ezz Steel\u2019s net income rose 23.2% y-o-y to EGP 6.6 bn in 2022, according to an EGXdisclosure(pdf). The company\u2019s revenues, meanwhile, rose 23.8% y-o-y to EGP 84.0 bn. 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Revenues also rose 16% y-o-y to EGP 37.1 bn in FY2021.Ezz Steel\u2019s bottom line turned positive in FY2021 reaching EGP 5.4 bn, compared to a\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":550899,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/11\/ezz-steel-to-pay-out-dividends-on-30-june\/","url_meta":{"origin":584662,"position":1},"title":"Ezz Steel to pay out dividends on 30 June","author":"enterpriseam admin","date":"11 May 2022","format":false,"excerpt":"MARKET NEWS- Ezz Steel will pay out dividends to its shareholders on 30 June at a price of EGP 0.80 per share, the company announced (pdf). MARKET ROUNDUP- The EGX30 rose 0.4% at today\u2019s close on turnover of EGP 855 mn (2% belowthe 90-day average). Foreign investors were net sellers.\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":557974,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/15\/egx-up-2-8-ytd\/","url_meta":{"origin":584662,"position":2},"title":"EGX up 2.8% YTD","author":"enterpriseam admin","date":"15 September 2021","format":false,"excerpt":"The EGX30 fell 0.3% at today\u2019s close on turnover of EGP 1.6 bn (3.6% above the 90-day average). Foreign investors were net sellers. The index is up 2.8% YTD.In the green: Cleopatra Hospitals (+5.9%), Ezz Steel (+2.9%) and EKH (+1.7%).In the red: Pioneers Holding (-4%), Raya (-3.7%) and Ibnsina Pharma\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":550736,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/19\/earnings-watch-arabia-investments-holding\/","url_meta":{"origin":584662,"position":3},"title":"Earnings Watch: Arabia Investments Holding","author":"enterpriseam admin","date":"19 April 2022","format":false,"excerpt":"EARNINGS WATCH-Arabia Investments Holding\u2019s bottom line rose 8% y-o-y in 2021 to EGP 103 mn, the company said in an earnings release (pdf). Revenues increased 5% y-o-y to EGP 1.69 bn. MARKET ROUNDUP-The EGX30 fell 0.9% at today\u2019s close on turnover of EGP 729 mn (21.3% below the 90-day average).\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":551249,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/earnings-watch-ezz-steel-mopco\/","url_meta":{"origin":584662,"position":4},"title":"Earnings watch: Ezz Steel, Mopco","author":"enterpriseam admin","date":"5 June 2022","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel\u2019s bottom line rose 2.4% y-o-y in 1Q2022 to reach EGP 1.22 bn, according to the company\u2019s financials (pdf). The metal producer saw its revenues increase 38.1% y-o-y to EGP 18.64 bn.Misr Fertilizers Production Company (Mopco)\u2019s bottom line rose 163.5% y-o-y in 1Q2022 to EGP 2.09 bn,\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":554713,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/is-ezz-steel-looking-to-acquire-a-stake-in-egyptian-steel\/","url_meta":{"origin":584662,"position":5},"title":"Is Ezz Steel looking to acquire a stake in Egyptian Steel?","author":"enterpriseam admin","date":"7 November 2021","format":false,"excerpt":"MARKET NEWS- Is Ezz Steel looking to acquire a stake in Egyptian Steel? In a bourse disclosure (pdf) today, Ezz Steel neither confirmed nor denied that it was looking to acquire the stake currently held by Ahmed Abou Hashima in Egyptian Steel, of which he is CEO and chairman. Responding\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=584662"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584662\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/584648"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=584662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=584662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=584662"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=584662"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=584662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}