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السبعيني المصري يرتفع للجلسة الخامسة على التوالي
CNBCArabia
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8/1/2023
Category
🗞
News
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00:00
on the movements of the stocks in the next period.
00:05
We will also talk in detail about this topic and the movements of the Egyptian market.
00:10
We have with us Mr. Mohamed Fathallah, the founding member of Bloom Egypt,
00:14
for the financial papers.
00:15
Mr. Mohamed, welcome to us and thank you for being here.
00:18
The beginning of a new month for the Egyptian stock market is returning
00:22
below the level of 17,600 points.
00:26
What do we expect in your opinion for August?
00:29
Especially since we are seeing a jump in liquidity levels of only 3.5 billion.
00:36
How can we explain the reasons for this rise in the liquidity of the beginning of the month?
00:41
Of course, there will be non-repeated operations or special operations.
00:51
However, the general atmosphere in the market is inclined to calm and low incentives in the market.
01:01
The desire of investors is not strong.
01:04
We are waiting for foreign investments because there are many stocks below the level.
01:10
We are waiting for investments because the market value increases in the sectors.
01:16
We are waiting for investments because if someone wants to diversify his portfolio,
01:21
he can find many sectors to invest in and not all the house is in one basket.
01:26
We are waiting for many things because the stock market has power.
01:32
We are waiting for credibility because we must, with the dates of these investments,
01:37
these are sacred dates, we must put them out because of the credibility of the investors,
01:44
investors and foreign investors, we must put them out on time.
01:47
I don't think the delays will make us postpone the investments once and for all
01:53
because this will certainly affect the reputation of the Egyptian stock market.
01:58
We need to pay attention to the stock market.
02:02
We have said a lot about the stock market that we have neglected and this will affect us.
02:08
We also said that it will have a negative impact
02:12
but today the stock market is growing and flourishing because of the investments it has made
02:19
through new currencies and new stocks.
02:25
We can do many things for the stock market.
02:27
We hope to take care of it in the coming period and see many good things in it.
02:32
We cannot ignore the upcoming decision at the end of the week, Mr. Mohamed.
02:38
During the sessions this week, how much will there be more movements and pressures on the index
02:44
before the exit of the monetary policy for the Egyptian central bank?
02:49
I don't think the story will have a direction, whether up or down, during this period.
02:58
I think the whole story will go flat, a little up and a little down
03:06
until there are strong things that will move it.
03:10
We hope that the direction or most of the predictions will be in the higher highs
03:18
from here to the end of the year.
03:20
Before anything else, we are waiting for economic progress
03:25
but the leading stocks are waiting for a break in their prices
03:30
because they are valuing them without the level.
03:33
We are seeing steps in the central bank regarding the industrial sector.
03:40
The government decided to reduce the gas price for industrial sectors
03:46
and for companies by 20%, Mr. Mohamed.
03:50
How much will it affect?
03:52
All the signs say that, especially the crude sector,
03:56
and we are seeing some pressures on the stock market,
04:00
that companies may be able to reduce their exports because of this decision.
04:06
How much will there be another damage to the industrial sector today because of this step?
04:11
Of course, it will affect negatively on the index,
04:18
this is the first point regarding the stock market.
04:21
Of course, I am afraid of the whole story of electricity and its impact,
04:26
and the impact of the back-up.
04:30
We hope that it will be a barrier and we can get through it
04:33
because the impact is not only in the crude sector.
04:36
As you mentioned, the sector is affected and its sales are affected
04:40
and its sales were in dollars, so the story is getting worse.
04:44
Of course, if we look at the figures,
04:47
we have other people working with gas,
04:50
we have the heavy industries, if we talk about the glass industry,
04:53
the ceramic and porcelain industries,
04:56
if the same story happens, it will affect,
04:59
if someone exports, it will be disrupted,
05:02
even if the story is getting worse.
05:05
That's why this story is very important to take care of,
05:10
and we hope it will disappear because of another kind of return,
05:14
and of course, momentarily or now,
05:17
or at the time we are in, there will be losses,
05:20
but this will be achieved through a return to production.
05:26
Yes, on the other hand, will we see the ability of companies' demands
05:30
to have a decision in less than a month?
05:34
Mr. Mohamed, can companies today pressure the government
05:38
not to extend the gas reduction for more than a month
05:42
because of the current market conditions?
05:46
I hope so.
05:49
But of course, we were preparing 300 million dollars
05:54
to get gas, and all this time has been taken from us.
05:58
I think the crisis needs a small solution
06:01
because it looks like a desperate crisis.
06:04
Yes.
06:05
Okay, back to the results.
06:07
We see that the profit is increasing,
06:10
with nearly 1.3 billion pounds in the financial year 2022-2023.
06:16
In general, how are we reading today with AMOC?
06:20
Despite the results, the remaining share of some of the pressures today,
06:24
how much do you think the global prices of oil products
06:27
contributed to the increase in AMOC profits during this period?
06:31
And can it continue for at least the end of this year, Mr. Mohamed,
06:35
with this positive performance?
06:38
Of course, it is the sales pressures that are frightening the investor
06:42
because he sees what happened in his expectations.
06:47
The companies that produce these products
06:52
got them because of electricity or gas.
06:57
This is the story.
06:59
So the fear, of course, is that the story of a low energy reduction
07:07
will continue for AMOC in the same situation.
07:10
Of course, AMOC and the consumer,
07:13
the company's interpretation of this positive performance,
07:16
the increase of 11%,
07:19
in two ways, the price of oil products has increased,
07:22
this is the first position.
07:23
In the second position, the price of spending has increased,
07:25
which has led to the positive performance of AMOC's financial results.
07:28
We hope that there will be no obstacles
07:31
that will prevent this progress from taking place.
07:36
Thank you, Mr. Mohamed Fathallah,
07:40
for joining us.
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