EGX 30 drops 2.62% as 900-MW wind deal and $195 mln placement lead news
The EGX 30 closed down 2.617% at 45,189.9 on March 30, with corporate announcements outweighing any broader market catalyst. Orascom Construction led the flow after a power purchase agreement was signed for a 900-MW wind farm in Ras Shokeir with Engie and Toyota Tsusho, while a consortium is set to deliver the project on a BOO basis, according to EnterpriseAM Egypt and Construction Business News Middle East. Abu Qir Fertilizers approved a $5.6 million coated urea project with capacity of 400 tons per day, ZAWYA reported. EFG Hermes also advised on Trolley’s $195 million private placement after working on its IPO and Boursa Kuwait listing, according to ZAWYA and الاقتصادي نيوز.
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The EGX 30 closed down 1.38% at 54,512.7 on Aug. 19, despite a run of broadly positive corporate updates. Egyptian Resorts posted consolidated first-quarter profit of EGP 11.4 million, according to TradingView. Juhayna Food Industries reported a profit of $27.62 million in the first quarter of 2026, according to Dairy Business Middle East & Africa. EFG Holding reported higher revenue while Bank NXT profit jumped 33%, Gulf Business reported.
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