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00:00And I stop to comment on the performance of the Egyptian stock market with my guest from Cairo, Rania Yaacoub, the president of the board of directors of Threeway, which deals with financial papers.
00:09I always tell you, Rania, and I start with you, from the words of the Egyptian president, Abdel Fattah al-Sisi, who said that we still have the problem of the dollar, which is the biggest challenge.
00:22And to overcome it, the increase of the local product must be huge to cover the market.
00:27How do you comment on, I don't want to talk about the interference of the president of the pyramid in Egypt in the critical policies or what happens to the exchange rate, but this is a very important indication to the economic kitchen in Egypt.
00:44Good evening and welcome, Rola.
00:45In fact, let me clarify a very important point, that the increase of the president's presidency is not an interference in the critical policies.
00:52In fact, what happened in March is a move from the central bank, and this move was part of it, and part of it exceeded our expectations.
01:04Everyone was expecting a drop in the value of the pound, and this was a definite matter, not only we expected it in Egypt, but most international institutions were expecting this drop.
01:13But what happened was a matter that exceeded all expectations, and it was a liberation of the exchange rate of the pound or a complete compensation.
01:21Today, what the president points out to me is a matter that concerns the future of the Egyptian economy.
01:27In fact, what happened in March was to treat the distortion that was present in the exchange rates and was disrupting the investment climate, whether direct or indirect investment.
01:38But there is no doubt that the Egyptian state has a very important vision, which is the vision of 2030, and it may have been announced in a document issued by the Egyptian Council of Ministers.
01:50It was concerned with several issues, the most important of which were communications, technology, industry, agriculture, food security, and this was one of the very important issues.
02:01There is no doubt that there is a very big movement from the Egyptian government, and there may be great directions to attract investors and direct foreign investment.
02:11The movement of the industrial sector, there are initiatives in gold licenses, and this may be related to the presidency of the president, but from my point of view, I have not seen any interference in the monetary policy.
02:23Let me see, Rania, you have international trade, which has only increased by 2% today.
02:29The bank made a profit of about 96%.
02:34Of course, I am talking about its branch in Egypt, which is 82%.
02:38It is not an easy profit.
02:40I saw a share a little before the beginning of the year.
02:42Yadobo also made 2% profit.
02:46Don't forget, the best price areas are about 96 pounds, if you remember, at the highest level since the beginning of the year.
02:53Why are we talking about the 70s today?
02:56For example, 72, 74 pounds in these limits only.
03:03In fact, the news that rapes companies has a very important impact on market movements and on the desire of investors.
03:10But there is no doubt that the market situation in general will have an impact on the decision of buying and selling.
03:17There is no doubt that the commercial bank today, and the announcement of its profits, especially the quarter, and these large profits,
03:24which we have seen or are expected to support the movements of interest on the screen,
03:31were expected to have an impact on the medium and long term.
03:36But today, the Egyptian market or the Egyptian stock market is in a state of profit-generating processes after a strong rally from the rise.
03:42We noticed that there is a kind of adherence to the support areas.
03:46Today, the positive news on the CIP is that it supported the retraction of the share price and prevented the indicator to fall.
03:54We were expecting to try on the 24,000-point areas.
03:59But today, the CIP retraction is supporting the positive news as well as supporting liquidity.
04:06Let's say that the last quarter of the session started to support most of the leading shares.
04:11And this is what we see, strong retraction processes on most of the leading shares.
04:16Rania, let me see with you also the reaction of the Heal market.
04:20The values of trading today were very weak compared to other sessions.
04:27Why should we exceed the values of medium trading?
04:31Today, we made 2.3 billion pounds.
04:34Are you satisfied with these levels?
04:40No, I, as Rania, am not satisfied with these levels.
04:43And I hope that the Egyptian market will return to the levels of 6 billion and 8 billion again.
04:48But let's say that this is a normal thing that happens in the markets with profit-generating processes.
04:53Let's say that we have been in profit-generating processes for almost a week.
04:57So, it is normal that today there is a kind of expectation that there will be a retraction movement.
05:02So, we still say that the buyer is expecting to see liquidity to enter any share that will hold in the supported areas.
05:10I think that tomorrow's session will be very expressive of the retraction processes.
05:15I expect that we will see a retraction of the EGX30.
05:18Most of the leading shares today, such as the CIP, the housing sector, we saw a reasonable retraction.
05:27Today, this will encourage the buyer.
05:29For me, the third and fourth sessions are the key sessions in the size of trading.
05:34This will allow me to determine whether the liquidity will continue.
05:37Is this a retraction movement?
05:39We have a level of 26,300, which is a very important resistance.
05:43Thank you for your time and your analysis.
05:46My guest today is Rani Yaqoub.
05:48You are the Chairman of the Board of Directors of 3Way for the trading of financial documents.