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4-Traders Homepage  >  Equities  >  CAIRO AND ALEXANDRIA STOCK EXCHANGE  >  Telecom Egypt Company    ETEL   EGS48031C016

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Telecom Egypt : EGX30 closes at 1M low Monday

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11/21/2017 | 07:22pm CET

EGX30 lost 0.45% and closed the session at 13,680.5 points

Cairo - Mubasher: The Egyptian Exchange (EGX) ended Monday’s trading session in the red, as the benchmark index EGX30 changed the upward direction seen earlier in the session.

The EGX30 fell by 0.45% or 61.61 points to 13,680.5 points at close, its lowest level since 19 October.

Financial analyst at Pioneers Mohamed Gaballah said that the purchasing power on the main index faded with correction wave seen on Commercial International Bank’s (CIB) stock.

Telecom Egypt dragged down the benchmark EGX30, the analyst said, forecasting that the index will regain its momentum as of Tuesday’s session, with resistance to be seen at 13,900 points and retargeting 14,200 points.

EGX heavyweight CIB is targeting levels between EGP 80 and EGP 82, Gaballah added

On Monday, CIB went up 1.42% to EGP 74.23, with a total traded value of EGP 48.9 million.

Market capitalisation lost EGP 2.3 billion, ending the session at EGP 764.8 billion.

Meanwhile, the EGX70 index declined 0.52% to 750.82 points, while the broader index EGX100 dropped 0.58% to 1,705.52 points.

The equal-weighted EGX50 index plummeted 1.26% to 2,381 points.

Traded volume totalled 237.8 million shares, with a total turnover of EGP 882.6 million, through around 25,300 transactions.

Egyptian investors leaned towards selling with a net sell-offs of EGP 419.2 million, while foreign and Arab investors were net buyers with EGP 327.9 million and EGP 91.37 million, respectively.

Telecom Egypt led the declining blue chips, plunging 4.25%, while Abu Dhabi Islamic Bank (ADIB) fell 4.15%, and Iron and Steel lost 3.92%.

On the other hand, Oriental Weavers topped gainers, advancing 3.12%, followed by CIB and Egyptian Financial and Industrial with 1.42% and 1.04%, respectively.

Source: Mubasher Exclusive

(c) All Rights Reserved - Mubasher Info 2005 - 2017 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( EGP)
Sales 2017 16 798 M
EBIT 2017 2 579 M
Net income 2017 2 966 M
Debt 2017 3 143 M
Yield 2017 6,52%
P/E ratio 2017 6,74
P/E ratio 2018 5,83
EV / Sales 2017 1,45x
EV / Sales 2018 1,46x
Capitalization 21 202 M
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 14,3  EGP
Spread / Average Target 15%
EPS Revisions
Ahmed Mohamed Hamdy El-Behery Chief Executive Officer, Director & MD
Maged Ibrahim Osman Chairman
Mohamed Hassan Shamroukh CFO, Director & Vice President-Administration
Antar Kandil Vice President-Information & Technology Systems
Ahmed Mohammed Jamal Abou Ali Independent Director
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