1. Today’s Trading Playbook
Mohamed Saad, Equity Analyst
Yesterday, EGX30 ticked 1.61% up amid stronger stocks of energy-intensive companies, riding the momentum sparked by media reports claiming gas prices will be cut. Here are our takeaways from the stock performances yesterday:
1) Part from ESRS being top performer, fertilizers and SKPC took the lead. (See our list published yesterday)
2) Ceramics had only eked out moderate gains, as the sector faces marketability issues.
3) MFPC as well as cement players delivered a mute performance.
4) Gainers saw their VWAP fall 2% off their intraday peak.
We continue to see that as media reports gain credence, companies with stronger top-line prospect will see their investor party grow louder. As we mention yesterday.
