{"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":608390,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/18\/what-the-markets-are-doing-on-18-october-2023\/","url_meta":{"origin":584662,"position":1},"title":"What the markets are doing on 18 October, 2023","author":"enterpriseam admin","date":"18 October 2023","format":false,"excerpt":"EARNINGS WATCH-Ezz Steel\u2019s bottom line plummeted nearly 120% y-o-y to a loss of roughly EGP 809.8 mn in 1H 2023, while revenues grew 61.7% y-o-y to EGP 62.3 bn from EGP 38.5 bn in the same period, according to the company\u2019s financial statement (pdf).REMEMBER- In July,Ezz Steel committed 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":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":550899,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/11\/ezz-steel-to-pay-out-dividends-on-30-june\/","url_meta":{"origin":584662,"position":3},"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":550736,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/19\/earnings-watch-arabia-investments-holding\/","url_meta":{"origin":584662,"position":4},"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":658599,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/13\/what-the-markets-are-doing-on-13-january\/","url_meta":{"origin":584662,"position":5},"title":"What the markets are doing on 13 January","author":"enterpriseam admin","date":"13 January 2025","format":false,"excerpt":"The EGX30 fell 2.5% at today\u2019s close on turnover of EGP 3.8 bn (0.4% below the 90-day average). Egyptian investors were the sole net buyers. The index is down 4.0% YTD.In the green: Egypt Kuwait Holding- EGP (+2.4%), AMOC (+2.4%) and Ezz Steel (+2.3%).In the red: TMG Holding (-6.0%), EFG\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}]}}