Al Ahly Pharos

Pre-Trading Thoughts

September 20, 2022 Al Ahly Pharos
Al Ahly Pharos
Pre-Trading Thoughts
Show Notes

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund, said that the Fund’s negotiations with Egypt and Tunisia to obtain financing “are in continuous progress, and within a short period they will be completed.”

Egypt and Danish shipping giant Maersk could cooperate on a USD 15 bn project to produce clean fuel for ships.

HRHO’s CEO Karim Awad is extremely bullish on the countries in which HRHO operates and singled out the Gulf Cooperation Council countries. 

FRA approved the establishment of Aman Consumer Finance Company and Aman Securitization license.

YAS Holding raised its bid to acquire the shares of Alexandria Medical Services Company to EGP48.62 per share.

Weekly Commodities Update |           Last Price            WoW Change, %

Brent, USD/bbl            88.6     -6.4%

Diesel-HSFO Spread, USD/ton          562.1   -16.1%

Egypt Urea, USD/ton  850.0   0.0%

Polyethylene, USD/ton           1,150.0            4.5%

Polypropylene, USD/ton         1,025.0            2.0%

Steel/Iron Ore Spreads, USD/ton       456.5   0.0%

LME Aluminum Cash Price, USD/ton            2,268.2            0.0%

Egyptian Retail Cement, EGP/ton      1,445.0            -1.2%

Steam Coal FOB Newcastle Australia, USD/ton            439.0   0.3%

rude Palm Oil, USD/MT          802.9   1.0%

SMP, USD/MT            3,575.0            1.4%