Egyptian stock alert
Afternoon Alert: Telecom Egypt hits 52-week high fifth time in one month 22 April 2018 12:10 EET
NEWS BITES - MIDDLE EAST & NORTH AFRICA
Telecom Egypt Co SAE (CA:ETEL) hit a 52-week high of LE15.30 today for the fifth time in the past one month and last traded at LE15.04. This brought its seven-day rise to LE2.41 or 19.1%. Trading volume was 77% of average so far today.
SECTION 1: The past week
Current indications of bullish signals that support the trend in the unusual trading
1.1 At a glance
Weekly: Telecom Egypt soars 20.0% in 2 weeks; nears a 22-month high April 19, 2018 14:30 EET
Telecom Egypt Co SAE (CA:ETEL), Egypt's 2nd largest Telecommunication company by market cap, traded near it's twenty two-month high. It lifted LE1.63 (or 12.3%) in the past week to close at LE14.85. The stock soared for a second week recording a rise of LE2.48 (or 20.0%) in the past two weeks. Compared with the EGX 30 Index which rose 370.4 points (or 2.1%) in the two weeks, this represented a relative price increase of 17.9%. This has been propped up by spectacular volume of 5.7 times average for the week. In the past week the market cap has jumped LE2.8 billion (US$157.2 million).
1.2 5-day Recap
Telecom Egypt outperformed the EGX 30 index in 5 out of 5 days.
[Volume Index (VI); 1 is average]
|Day||Headline||Close price [EGP]||Price change %||Relative change %||Comment|
|Thursday||Telecom Egypt keeps rising, up 17.6% in 6 days||14.85||1.0||0.6||VI=5.7|
|Wednesday||Telecom Egypt keeps rising, up 16.4% in 5 days||14.7||0.8||1.3||VI=4.4|
|Tuesday||Telecom Egypt hits year-high 2nd time in one month||14.59||5.1||4.1||Top Rise; VI=6.6|
|Monday||Telecom Egypt keeps rising, up 9.9% in 3 days||13.88||0.9||0.8||VI=5.3|
|Sunday||Telecom Egypt up 8.9% in 2 days||13.75||4.0||3.9||VI=7.4|
SECTION 2: Technical indicators
The positive 0.58 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal (12-day minus 26-day Exponential Moving Averages). Both the 12-day and the 26-day EMA are rising - another bullish signal. In the past week, the stock's MACD has been positive every day, a reinforcing bullish signal.
In the Egyptian market, the stock's relative price strength percentile is improving at 60 for 6 months, 66 for 3 months and 93 for 1 month.
In the last one month the stock has hit a new 52-week high five times, pointing to an uptrend.
The present value of EGP1,000 invested one year ago is LE1,409 [vs LE1,391 for the EGX 30 Index], including a capital gain of LE297 and dividend reinvested of LE112. The total return to shareholders for 1 year is 40.9%.
The 1.7% discount to 12-month high of LE15.30 against the 57.3% premium to 12-month low of LE9.56 suggests the climb might be peaking.
SECTION 3: Ranking
|Description||Value||Rank In Market|
|MCap $US billion||1.5||In Top 6%|
|Price/MAP200||1.2||In Top Quartile|
|52-week Range (in LE)||9.6-15.3|
|1-month Range (in LE)||12.1-15.3|
SECTION 4: Recent News of Telecom Egypt
April 21: Telecom Egypt announces dividend
Telecom Egypt today announced a cash dividend of 25.0 qirsh per share. The record date is Monday, April 23.
April 11: Telecom Egypt declares cash dividends of LE0.250\share
ArabFinance: Telecom Egypt (ETEL) announced in a statement sent to EGX, it declared a cash dividend of LE0.250 per share payable on April 29, 2018.
It is noteworthy that the shareholders as on April 23, 2018, are entitled to cash dividends distribution.
April 03: Loan deal still going on without problems: Telecom Egypt
Cairo: Telecom Egypt (ETEL) denied reports claiming that there are problems concerning the LE 13-billion loan deal with five banks.
In statements to MENA on Tuesday, the source said the loan deal is going on normally.
The state-owned landline operator struck the loan deal with five banks; the National Bank of Egypt, Banque Misr, Commercial International Bank (CIB), Qatar National Bank (QNB) and Credit Agricole, to improve its infrastructure to launch 4G services.
April 03: Telecom Egypt denies suspending its 13-bln loan
ArabFinance: Telecom Egypt (ETEL) clarified what has been published in Reuters regarding suspending the Company loan that amounts LE13 billion.
The company denies the above-mentioned news in a statement sent to Egyptian Stock Exchange (EGX), adding the loan procedures have been proceeding normally.
March 29: Potential investment opportunity in maritime cables: Telecom Egypt
Cairo: Telecom Egypt (ETEL) said there is a potential investment opportunity in maritime cables domain to maximize the company's revenues.
In a statement on Wednesday, the company's CEO Ahmed el Beheiry said the opportunity is important as it will help the company secure its revenues of maritime cables.
Telecom Egypt Co SAE (CA:ETEL; CAI:ETEL; EY:ETEL)