Today’s Trading Playbook
Amr Hussein Elalfy CFA, Head of Research
KEY THEMES
And the Q2 2020 earnings season continues. However, results of consumer names have so far disappointed, suggesting that this defensive sector is not as defensive as was thought to be. However, this leaves us with a couple other sectors that should probably be more defensive, namely health care and telecom. We prefer Cleopatra Hospitals Group [CLHO] and Ibnsina Pharma [ISPH] in the former and Telecom Egypt [ETEL] in the latter.
POSITIVE
Monetizing on one of its investments, B Investments’ [BINV] Total Egypt stake sale should be positive for the stock. Would such as sale mean potential dividends to BINV’s shareholders? At a market cap of EGP926mn, BINV is trading at close to half its book value.
Now, on to the top news and analysis for the day.