Egyptian stock alert
CLOSING UPDATE: Tourah Portland Cement keeps rising: up 48.9% in 7 days 17 October 2017 15:04 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).
Tourah Portland Cement, Egypt's 9th largest construction and materials company by market capitalisation, extended its gains on Tuesday, rising an additional LE1.43 (or 7.9%) to trade at LE19.45. Trading volume was 12.8 times average at the end of the day. The shares have risen LE6.39 (or 48.9%) over the past seven trading days vs. the EGX 30 Index which has fallen 3.4% in the same period.
Technical indicators complementing today's significant uptrend:
+ The positive 1.3 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ The stock has outperformed 82% of the Egyptian market over the past 6 months.
+ The price soared 27.2% in the last week and 45.6% in the last month.
+ The present value of EGP1,000 invested one year ago is LE2,372 [vs LE1,641 for the EGX 30 Index].
Afternoon Alert: Tourah Portland Cement in 7th consecutive rise, nears a 51-month high
17 October 2017 12:11 EET
Tourah Portland Cement Co (CA:TORA) extended its gains Tuesday, rising an additional LE1.43 (or 7.9%) to trade at LE19.45. The stock climbed 4.01% on Sunday and 0.73% on Monday bringing its 7-day rise to 48.9%. It is now testing its thirty-six-month high of LE19.45.
Tourah Portland Cement Co (CA:TORA; CAI:TORA; EY:TORA)