Today’s Trading Playbook
KEY THEMES
This is another 4-day week shortened this time by Eid Al-Adha vacation. As a result, we expect trading volumes to be muted as some investors prefer to stay on the sidelines during such long vacations. While some companies may publish their Q2 results before Eid, the majority will do so after Eid vacation.
POSITIVE
MHOT: Please check out our contrarian call above on Misr Hotels [MHOT].
ESRS, IRAX: Both Ezz Steel [ESRS] and Ezz Al-Dekheila [IRAX] may see their stocks react positively to the news of steel rolling mills’ losing their case to suspend the safeguard measures taken by the government against imports of steel and billets. This means the decision is still valid, thus limiting import competition.
Now, on to the top news and analysis for the day.