London GDRs Update

Nothing New to those fucking dual listed stocks, more drop and new lows …

CIB Bank COMI.CA/CBKD.IL
EFG Hermes HRHO.CA/EFGD.IL
Orascom Telecom ORTE.CA/OTLD.IL
Orascom Const OCIC.CA/ORSD.IL

Egypt\London Dual Listed GDR Stocks Weekly Wrap

The last Updated charts of the main 4 GDRs: Egypt CIB Bank, EFG Hermes, Orascom Telcom & Construction

Egypt CIB Bank +5.4% – -8% Vol
EFG Hermes -13.4%, 191% Vol
Orascom Tele +4.3%, -10% Vol
Orascom Const. -15.8%, 36% Vol

Egyptian Exchange Weekly Wrap Up

I dont know is this market is easy to beat or it just me, another round with the CASE30 (the Main Market index) and I’m the winner (+1.9%, see the Journal)

the best performing sector this week in price and volumes was the Basic Resources

all the week gone for Ezz Steel ESRS.CA and the last two days for the rest of the sector

the best stock this week is the OTC listed Lakah group HCFI.OTC which hasnt any existing in nature, just the name of the company’s owner and a news about return to pay back the stolen Banks money

+39% but very risky to play, so we left it away

the next best is Pioneers Holding PIOH.CA the investment bank and broker, we already catch it’s breakout with two position, one of them is closed and made the week for us (101K in it only)

some movement in the small deserted sector, Oil & Gas and I think it because the new Oil descovries in the west desert, may be!

this sector has 3 listed stocks only, we catch 2 of them Alex Miners (AMOC.CA), and Maridive (MOIL.CA) and watching them

Olympic group (OLGR.CA) was the heaviest in volume and shares 2.1M (340% above the Volume average) without any noticeable movement, insiders Buying?!

also NAHO.CA (Naeem Holding) and Orascom Telecom (ORTE.CA) shows heavy over-average volumes this week and also considered insiders buying and shares buy back

one of what we missed as a good trade on the weekly and daily was Mobinil (EMOB.CA), outperformed this week +13.3% with 904K!

also I don’t know what EFG Hermes doing and why this weak performance, I’ vent any share in it but just wondering!!

also some of the real estates did it in the last trading session (see HELI.CA, MNHD.CA, why? I don’t know and don’t care about the reason as usual (I’ve a position in both of them) and the view telling that: a story is coming on the weeklies, so be patient

Weekly WrapUp of the Egyptian Exchange

the main Market Index CASE30 and the sector indices performance

sorted by one week change

that’s it …

the market tumbled 19.6% and the worst sector for sure is the construction by Orascom Hands after it’s bad earnings release which take stock price down -34% in this week (OCIC.CA 114, -34%)

the worst Stocks this week were the blue chips without any exception, this list contain Orascom, SODIC, EFG Hermes, Orascom Telecom and others , some of them are listed below

also some of the stocks that witnessed drop in price with strong volume (accumulation signs)

 

Stock Last % change   % Vol ESRS.CA 9.64   -18.92%   648% ABRD.CA 7.65   -20.31%   190% PACH.CA 28.32   -9.90%   177% ASCM.CA 26.65   -29.87%   170% SUCE.CA 20.40   -13.19%   153% HRHO.CA 13.56   -31.17%   141% IFAP.CA 11.24   -22.64%   114% OCIC.CA 114.00   -34.00%   113% ELKA.CA 4.50   -14.12%   108%

Stock % CHG FOAM.CA -46.00% OCDI.CA -37.71% OCIC.CA -34.00% GSSC.CA -32.09% HRHO.CA -31.17% ORTE.CA -30.41% $MOIL.CA -30.36% ASCM.CA -29.87% COSG.CA -29.87% RAKT.CA -29.54% ECMI.CA -28.87%

Egypt/London Dual Listed Stocks Update

the Updated GDR/Stock charts

 

CIB Egypt Bank
EFG Hermes
Orascom Const.
Orascom Telecom.

 

for the reader who asked me in email why this close tracking to those stocks?!

we always track those stocks cuz they are the main drivers of the Egyptian Exchange without doubt, the London GDRs drive this market very easily, one of my friends in Jan 2008 was laughing with me in the night and we were talking about this point and he said: I will deduce this for you

the next day in the morning in his office he put order by the phone to sell 30 CIB Egypt Bank GDRs by Market at the open of the LSE, and some other GDRs in both Orascoms

30 DGRs executed in 5 orders and the price of the GDR dropped 6% and by the close it recorded more than -7% drop then he told me to wait to see the consequences in our Local Cairo Market

in this day the Egyptian Exchange (EGX) tumbled 4% this day and continued the losses for next 4 consecutive days and end this week more than -12% loss

and for history: this is the only small reason for this drop in the whole market 

Orascom declines 70% in 9 months profit

Net income dropped to $345.3 million, or $1.80 a share, from $1.3 billion, or $5.96, a year earlier, the Cairo-based company said in an e-mailed statement today. Third-quarter profit was $69.4 million, the company said without giving a comparison.

Earnings came below our expectations due to higher foreign exchange losses of $69 million versus our estimate of $10 million,” said Marise Ananian, a Cairo-based analyst at EFG-Hermes Holding SAE, Egypt’s largest investment bank.

bloomberg

Egypt London GDR Weekly Wrap

CIB Bank	EFG Hermes
Orascom Construction	Orascom Telecom

Egyptian Exchange Wrap

 

The Top Volume this week and the Worst Performers are very interesting

Stock Last % change % Vol SAUD.CA 6.10   2.01%   529% ELKA.CA 5.24   0.77%   505% ECAP.CA 5.62   11.95%   419% IFAP.CA 14.53   6.84%   365% SPIN.CA 1.80   18.42%   325% ASCM.CA 38.00   38.13%   322% RAYA.CA 5.21   11.09%   288% MICH.CA 9.16   12.53%   258% ZEOT.CA 1.79   -0.56%   242% ECMI.CA 79.08   67.01%   229% UEGC.CA 2.74   21.78%   219% ESRS.CA 11.89   7.31%   207% ABRD.CA 9.60   18.23%   206% KABO.CA 1.49   1.36%   157% IRON.CA 16.90   26.50%   156%

Stock % CHG ECMI.CA 67.01% NCEM.CA 45.33% PRCL.CA 42.26% ASCM.CA 38.13% MOSC.CA 31.10%

Stock % CHG NIRE.CA 30.35% HRHO.CA 16.84% KZPC.CA 16.67% ORTE.CA 15.93% AFDI.CA 15.35%

 

will look at the rest in weekend

Egypt London GDR Weekly Charts, Wrap

CIB Egypt Bank	EFG Hermes
Orascom Construction	Orascom Telecom

Egypt GDR Weekly Wrap 6-10 OCT 08

the GDRs listed in london continue it’s bad performance in the last trading session this week, today

also you can notice the grown huge volumes in the most active of them

as weekly:

the CIB Bank of Egypt (COMI.CA, CBKD.IL)  recorded -7.7% drop and 95% VOL over it’s average

EFG Hermes (HRHO.CA, EFGD.IL) recorded -14.9% drop this week with average volume

Orascom Telecom (ORTE.CA, OTLD.IL) printed -16% drop and hugh volume  294% over the average

Orascom Construction (OCIC.CA, ORSD.IL) dropped -29.3% and 443% increase in volume

the charts shows this action (someone ask me to change the bar chart to candles and here is what you want..)

(you can get them for free from any provider like Yahoo or MSN Money)