Egyptian stock alert

EGYPT

CLOSING UPDATE: Arabia Cotton Ginning decreases further 0.3%, led Personal and household products sector lower 14 June 2018 15:07 EET

NEWS BITES - MIDDLE EAST & NORTH AFRICA

This is an end of day Alert, produced after today's Egyptian market close. It concludes the BSS News Bites intra-day Alert series (summaries below).

Arabia Cotton Ginning, Egypt's 2nd largest personal and household products company by market capitalisation, has plummeted 49.1% to trade at LE2.85 vs. the Personal and household products sector which weakened 986.1 points (or 11.6%) to 7,548.2. Representing a weighting of about 10.5% of the sector, the stock accounted for 44.8% of today's loss. Trading volume was 3.5 times average at the end of the day. Compared with the EGX 30 Index which rose 42.6 points (or 0.3%) in the day, this represented a relative price change of -49.4%.

Technical indicators complementing today's significant downtrend:

+ The 3.3% premium to 12-month low of LE2.76 against the 59.5% discount to high of LE7.04 suggests the stock continues to push for new lows.

+ In the last three months the stock has hit a new 52-week low once.

+ The price plummeted 49.8% in the last week and 51.4% in the last month.

+ The present value of EGP1,000 invested one year ago is LE626 [vs LE1,201 for the EGX 30 Index].

Note

Bullish Signals:

In the last three months the stock has hit a new 52-week high four times, pointing to an uptrend.

Fundamental measures by comparison with the sector average [in brackets] indicate:

Undervaluation:

Dividend yield of 7% [0.8%]

TODAY'S ALERT

Afternoon Alert: Arabia Cotton Ginning plummets 48.9%, leads Personal and household products sector lower

14 June 2018 12:11 EET

Arabia Cotton Ginning Co SAE (CA:ACGC) has plummeted 48.9% to trade at LE2.86 vs. the Personal and household products sector which weakened 732.2 points (or 8.6%) to 7,802.0. Representing a weighting of about 10.2% of the sector, the stock accounted for 58.3% of today's loss. Trading volume was 3.2 times average so far today.

Arabia Cotton Ginning Co SAE (CA:ACGC; CAI:ACGC; EY:ACGC)

ISIN: EGS32221C011

PermID: 4295866223

Source: www.BuySellSignals.com