Week ending October 18, 2020

EGX 30: 11,327 (+2.5%) weekly change, (-18.9%) YTD  
Traded Value 1W Avg:
EGP 565M , (-7.6%) above 90D Avg.  
15.72 (-0.2%) weekly change 

We’re happy to announce that we have added technical analysis to our Analyst subscription plan. Technical analysis will be led by veteran analyst Mohamed A. Elaasar (LinkedIn), 1st and only Arab recipient of the John Brooks Memorial Award for the best Master of Financial Technician for the year 2010.

Not sure how to choose your investments?  Learn more about researching & analyzing opportunities

Local Pick-up

After a five-year hiatus, Mercedes-Benz selects Egyptian German Automotive Co. (EGA) to assemble cars

Mercedes-Benz Egypt will partner with EGA to assemble cars in Egypt. EGA was awarded the contract after meeting Mercedes-Benz’s standards and production requirements. The company imported two shipments earlier this week including assembly inputs, spare parts, and fully-assembled vehicles. The first car should be completed in Q2 2020. (Source: Enterprise)

FRA approves HeidelbergCement MTO on Suez Cement

The FRA approved HeidelbergCement MTO to acquire a 33% stake in its Egyptian subsidiary Suez Cement for EGP 448M, while Suez is looking to acquire a 28% stake in its subsidiary Tourah Portland Cement Company for c. EGP 144M. HeidelbergCement is one of the world’s largest integrated manufacturers of building materials with leading market positions. (Source: DailyNews)

State-owned Heliopolis Housing reveals its plan to develop USD 6.4B assets

Heliopolis Housing has unveiled a new five-pillar strategy that will see the company develop USD 6.4B worth of assets autonomously and through partnerships with private developers after scrapping plans to sell a stake with management rights. The new plan for New Heliopolis City entails self-developing 400 feddans, with two plots at 500 feddans set to be offered for co-development. (Source: Zawya)

Global Pick-up

Apple enters 5G market and says goodbye to charger for the new line of iPhones 

Apple pushes the boundaries of innovation by introducing a powerful 5G experience and an innovative new accessory with MagSafe that improves wireless charging for a better, more efficient experience. The iPhone 12 Pro models boast a new sharp flat-edge design that features a gorgeous surgical-grade stainless steel band paired with a precision-milled matte glass back. (Source: Company Disclosure)

Market wrap up

Stay informed by checking out our weekly wrap up of financial markets performance here.

Weekly Thunderstrike!

The US IPO market is booming with nearly 80 deals set to raise USD 29B in Q3.