EGX 30 slips 0.38% as Telecom Egypt, Abu Qir anchor earnings flow
The EGX 30 closed at 52,658.8, down 0.3835% on May 25, in a session shaped by corporate updates. Telecom Egypt reported strong underlying business performance in Q1 2026, according to WebWire, with no additional figure in the headline. Abu Qir Fertilizers and Chemical Industries posted quarterly net profit of EGP 5.63 billion, according to TradingView, providing the session's clearest earnings datapoint. Egypt's prime minister and Elsewedy Electric discussed expansion plans and new investments, ZAWYA reported, with the headline keeping the projects at the discussion stage.
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EGX 30 rises 0.40% after 2.63% drop, with IPO and fertilizer stocks in focus
The EGX 30 rose 0.3981% to 51,098.8 on October 19, after a 2.63% slide on October 18, according to market data and an analyst note. Banque du Caire moved forward with its planned IPO, with EFG Hermes and CI Capital set to lead the deal after an indicative price range was set, according to Arab Finance. Abu Qir Fertilizers gained 4.00% ahead of results, after 86% growth reported on October 14, according to ad-hoc-news.de. Elsewedy Electric stayed in focus with a $2.2 billion EPC contract through a joint venture for the Rabigh 2 expansion in Saudi Arabia, while the group is studying an electric and hybrid car factory in Algeria, according to IndexBox and waya.media.
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