Egyptian stock alert
CLOSING UPDATE: Modern Company for water proofing accelerates rise, now up 5.3% in 2 days 18 January 2018 15:05 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).
Modern Company for water proofing, Egypt's 18th largest construction and materials company by market capitalisation, is up 4.0 qirsh (or 5.3%) over the past two trading days. After rising 1.3% on Wednesday, the stock rose 3.9% on Thursday to trade at 80.0 qirsh vs. the EGX 30 Index that is up 2.1% in the same period.
Technical indicators complementing today's significant uptrend:
+ The 3.6% discount to 12-month high of 83.0 qirsh against the 31.1% premium to 12-month low of 61.0 qirsh suggests the stock continues to push for new highs.
+ In the last three months the stock has hit a new 52-week high twice.
+ The price jumped 8.1% in the last week and soared 14.3% in the last month.
Fundamental measures by comparison with the sector average [in brackets] indicate:
+ Dividend yield of 3.8% [0.4%]
The stock has underperformed 76% of the Egyptian market over the past 6 months.
Afternoon Alert: Modern Company for water proofing accelerates rise, now up 6.6% in 2 days
18 January 2018 12:12 EET
Modern Company for water proofing (Bitumode) (CA:WATP) is up 5.0 qirsh (or 6.6%) over the past two trading days. After rising 1.3% on Wednesday, the stock rose 5.2% on Thursday to trade at 81.0 qirsh vs. the EGX 30 Index that is up 2.0% in the same period.
Modern Company for water proofing (Bitumode) (CA:WATP; CAI:WATP; EY:WATP)