EGX 30 edges up 0.14% as Juhayna and Abu Qir earnings offset telecom drag
The EGX 30 closed up 0.14% at 52,927.0 on June 2, with trading anchored by a run of corporate updates. Juhayna Food said Q1 2026 profit doubled to EGP 668.6 million, while Abu Qir Fertilizers posted quarterly net profit of EGP 5.63 billion, according to Billionaires.Africa and TradingView. Telecom Egypt paired 14% Q1 revenue growth with net profit of EGP 3.57 billion, down 23% year-on-year, according to Telecompaper, TradingView and ZAWYA, and also launched a fibre-to-the-room service with Huawei, reports Broadcast Media Africa. Elsewedy Electric acquired a majority stake in Thomassen Service and won EGM approval for a capital cut tied to ESOP share write-offs, while also discussing expansion plans and new investments, according to ZAWYA and Dailynewsegypt.
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Cairo Stock Exchange — EGTS Jumps 12.9%, Crushing an EGX 30 Gain of 0.95%
EGTS posted the day’s strongest move, soaring 12.9% to EGP 19.9 versus a 0.95% rise in the EGX 30. The rally came as property names outperformed, the Egyptian pound strengthened to 51.67 per dollar, and Brent eased to $91.49 a barrel.
EGX 30 rises 0.95% as Orascom deals and Telecom Egypt sale drive flow
The EGX 30 closed up 0.95% at 52,374.8 on June 9, with deal flow and earnings setting the tone. The government completed the sale of a 10% stake in Telecom Egypt in the final tranche of the transaction, Ahram Online reported, while EFG Hermes led a landmark EGP 5.1 billion corporate bond issuance for EGP Corp-Solutions, according to ZAWYA. Orascom Construction sealed 2 contracts tied to Cairo Metro Line 4 and the high-speed rail project, Ahram Online said, after reporting quarterly net income of $24.5 million, according to the same source. Cleopatra Hospital also posted Q1 standalone profit of EGP 132.8 million, according to TradingView.