Today’s Trading Playbook
Amr Hussein Elalfy CFA, Head of Research
KEY THEMES
Companies continue to report Q2 2020 earnings this week, which have been mixed. Consumer names continue to report weaker profits y/y despite some growth in the top line. Meanwhile, real estate developers’ pre-sales figures are a reflection of the lockdown measures taken by the government in Q2 2020. Out of three real estate developers reporting their earnings so far, only Madinet Nasr Housing & Development [MNHD] stands out as growing its pre-sales y/y in H1 2020. We look forward to Telecom Egypt’s [ETEL] results tomorrow, which we believe should be positive.
Now, on to the top news and analysis for the day.