Egyptian stock alert

EGYPT

CLOSING UPDATE: EFG Hermes Holdings up 9.1% in 2 days 20 September 2018 15:10 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).

EFG Hermes Holdings, Egypt's 2nd largest financial services company by market capitalisation, extended its gains on Thursday, rising an additional LE1.25 (or 7.8%) to trade at LE17.35. Trading volume was 3.0 times average at the end of the day. The shares have risen LE1.45 (or 9.1%) over the past two trading days vs. the EGX 30 Index which has fallen 4.0% in the same period.

Technical indicators complementing today's significant uptrend:

+ In the Egyptian market, the stock's relative price strength percentile is improving at 66 for 6 months, 83 for 3 months and 92 for 1 month.

Note

EFG Hermes Holdings today is at a discount of 20.3% to the 12-month high of LE21.76 on 11 Apr, 2018. It is at a premium of 15.6% to the 12-month low of LE15.01 on 17 Sep, 2018.

Bearish Signals:

The negative 0.38 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.

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

The price decreased 0.3% in the last month.

TODAY'S ALERT

Afternoon Alert: EFG Hermes Holdings up 5.7% in 2 days

20 September 2018 12:12 EET

EFG Hermes Holdings SAE (CA:HRHO) extended its gains on Thursday, rising an additional 70.0 qirsh (or 4.3%) to trade at LE16.80. Trading volume was 4.2 times average so far today. The shares have risen 90.0 qirsh (or 5.7%) over the past two trading days vs. the EGX 30 Index which has fallen 2.0% in the same period.

RECENT ALERTS

CLOSING UPDATE: EFG Hermes Holdings hits 52-week low second time in one month

17 September 2018 15:08 EET

EFG Hermes Holdings, Egypt's 2nd largest financial services company by market capitalisation, hit a 52-week low of LE15.01 earlier today for the second time in the past one month, but later rebounded higher to LE16.10. Trading volume was 63% of average at the end of the day. Compared with the EGX 30 Index which fell 104.7 points (or 0.7%) in the day, this represented a relative price increase of 5.6%.

Afternoon Alert: EFG Hermes Holdings climbs 4.2%, leads Financial services sector higher

17 September 2018 12:12 EET

EFG Hermes Holdings SAE (CA:HRHO) has climbed 4.2% to trade at LE16.0 vs. the Financial services sector which strengthened 49.7 points (or 0.7%) to 7,425.9. Representing a weighting of about 16.3% of the sector, the stock accounted for the gain. Trading volume was 4.3 times average so far today.

EFG Hermes Holdings SAE (CA:HRHO; CAI:HRHO; EY:HRHO)

ISIN: EGS69101C011

PermID: 4297510933

Source: www.BuySellSignals.com