Cairo Stock Exchange — IRON Jumps 5.0%, EGTS Gains 4.9% as EGX 30 Falls 1.03%
Two cyclical names led EGX today even as the EGX 30 fell 1.03% to 49,825.6. IRON and EGTS rose nearly 5% in a market split between a softer dollar, selective buying and profit-taking in heavyweight stocks.
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Two cyclical names stole the spotlight on the Egyptian stock exchange today even as the benchmark sold off. The EGX 30 index fell 1.03% to 49,825.6 on Monday, 29 June 2026, but Egyptian Iron and Steel jumped 5.0% to EGP 32.31 and Egyptian Resorts Company climbed 4.9% to EGP 16.98. That split captures the current Cairo market better than the headline index move: investors cut exposure to heavyweight liquid names while selectively buying into domestic cyclical stories.
Key figures
- EGX 30: 49,825.6 (-1.03%)
- IRON: +5.0% at EGP 32.31
- EGTS: +4.9% at EGP 16.98
- USD/EGP: 49.15 (-0.69% on the day)
- Brent crude: $74.01 a barrel (+2.8%)
EGX today: the index fell, but the market was not broadly weak
The first point in any serious Egypt stock market analysis is breadth. Monday’s session was almost evenly split, with 21 gainers, 20 losers and 3 unchanged out of tracked stocks. In other words, the decline in the flagship index was driven more by pressure on a handful of large caps than by a broad-based retreat across Egyptian equities.
Turnover reinforced that reading. Commercial International Bank, the market’s banking bellwether, traded EGP 663.2 million and fell 2.3% to EGP 126.89. CCAP posted EGP 238.8 million in value traded for a modest 0.2% gain, while ORAS handled EGP 235.0 million and rose 2.0% to EGP 703.99. TMGH slipped 1.3% to EGP 92.36 on EGP 208.1 million of turnover, and PHDC was flat with EGP 168.7 million traded. The benchmark therefore masked a more nuanced session in which liquidity was used to exit heavyweights and rotate into smaller, more tactical positions.
Macro mattered as well. The USD/EGP eased 0.69% to 49.15, a supportive signal for domestic names exposed to imported inputs or local confidence. At the same time, Brent crude rose 2.8% to $74.01 a barrel. Global headlines pointed to continuing U.S.-Iran peace talks and a partial unwinding of the Hormuz risk premium, but oil still moved higher on the day. For Egypt, that mix is complicated: a firmer pound helps sentiment and cost expectations, while higher oil can pressure the import bill and external balances.
Why IRON and EGTS outperformed in a falling market
The 5.0% rise in Egyptian Iron and Steel to EGP 32.31 looks like a classic cyclical rotation trade. When investors trim large liquid stocks, they often redeploy part of that cash into industrial names that offer higher operating leverage to any improvement in domestic conditions. A softer dollar at EGP 49.15 improves the market’s perception of input-cost pressure for manufacturers, even if the real earnings effect takes time to show. In Egypt, that currency channel remains central after the multiple devaluations of 2022, 2023 and 2024, which reshaped how local investors price every industrial story.
For EGTS, up 4.9% to EGP 16.98, the driver is slightly different. The stock sits at the intersection of tourism, real estate and domestic risk appetite. Monday’s move suggests investors were willing to add exposure to higher-beta tourism-linked property names even as broader real estate performance stayed mixed. TMGH fell 1.3%, while EMFD added 1.0% to EGP 11.43. That divergence matters because it shows the market is no longer treating property as a single trade. Companies tied to resort development, premium land banks or tourism flows can decouple sharply from mainstream residential developers.
The move also fits Egypt’s macro narrative. Tourism, remittances, Suez Canal receipts and natural gas remain critical sources of foreign currency, and any stock linked to those themes can attract speculative buying when the pound stabilises. A stronger local currency does not solve structural issues, but it can improve near-term confidence in domestically geared names. That helps explain why RAYA rose 2.5% to EGP 7.30, SAUD gained 2.2% to EGP 20.49, and AMOC advanced 1.2% to EGP 7.52 even as the headline index moved lower.
Heavyweights dragged the benchmark more than the tape suggested
The benchmark’s 1.03% decline was largely a story of heavyweight weakness. EAST dropped 2.9% to EGP 37.0, COMI fell 2.3%, BINV lost 2.0%, JUFO shed 1.6%, ABUK declined 1.3%, and ETEL slipped 1.1%. When banking, telecom and consumer names all weaken together, they exert an outsized impact on the index even if the rest of the market is relatively balanced.
Eastern Company is especially worth noting. The stock is often treated as a defensive name because of its dominant market position, strong margins and income appeal, yet it still fell 2.9%. That points less to a fundamental rejection of the company and more to portfolio rebalancing. On the Cairo market, fund managers frequently sell liquid blue chips first when they need to free up cash for shorter-term opportunities elsewhere on the board.
Announcements and secondary signals across the Cairo stock market
The session was also shaped by a busy corporate calendar. Official market notices showed AMOC releasing board decisions on 29 June 2026, while Madinet Masr For Housing and Development also published board decisions. Orascom Construction issued a disclosure-form release, and Arab Real Estate Investment Co.-ALICO released financial statements. None of those notices, based on the information provided, delivered a market-wide shock, but they helped sustain selective trading across sectors.
Energy-linked names offered another useful clue. SKPC rose 1.4% to EGP 15.89, AMOC gained 1.2%, and MFPC added 0.8% to EGP 34.59. With Brent at $74.01, the market gave some support to hydrocarbon and industrial-input names. The relationship is not straightforward in Egypt, because higher oil prices can hurt the macro backdrop, but on a stock-by-stock basis they can still lift sentiment toward refiners, petrochemicals and related plays.
