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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EGX 30 drops 3.41% despite IPO momentum and a $202 billion real estate deal
The EGX 30 closed down 3.4105% at 51,052.3 on October 22, marking a sharp pullback. EFG Hermes completed its advisory role on MNT-Halan’s EGP 7.84 billion IPO, described as Egypt’s largest listing since 2021, according to Arab Finance, Gulf Business and شبكة تواصل الإخبارية. The bank is set to begin promoting the Misr Life Insurance and Egypt Education Platform IPOs in November, waya.media reports, extending an already active primary pipeline. In real estate, Talaat Moustafa Group signed a $202 billion agreement and plans to develop 4 projects worth EGP 11 trillion in Egypt, according to Middle East Online and Egypt Today.
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