EGX 30 falls 1.55% as Telecom Egypt deal and infrastructure contracts drive flow

The EGX 30 closed down 1.55% at 51,769.7 points on June 23, with newsflow centered on telecoms, infrastructure and healthcare. Telecom Egypt saw the state complete the sale of a 10% stake, while ADCB Egypt partnered with EFG Hermes to launch its 1st money market fund, according to Ahram Online and ZAWYA. In stocks, Korra Energi jumped 19.20% on its June 11 debut, Cleopatra Hospital posted 22% year-on-year consolidated revenue growth in Q1 2026 and standalone profit of EGP 132.8 million, according to ZAWYA and TradingView. On projects, Orascom Construction announced 2 deals tied to Cairo Metro Line 4 and the high-speed train, while Elsewedy Electric's Rowad Modern Engineering joined an Alstom consortium for Egypt rail projects, Ahram Online and ZAWYA reported. TMG also signed a strategic partnership with Saudi PIF, secured a licence for an $18.8 billion Iraq development and saw the EGX plan a futures launch on its shares, according to Asharq Al-Awsat, Daily News Egypt and AD HOC NEWS.