المؤشرت المصرية تسجل أعلى إغلاق أسبوعي في تاريخها

CNBCArabia

Watch المؤشرت المصرية تسجل أعلى إغلاق أسبوعي في تاريخها - CNBCArabia on Dailymotion

Transcript

00:00 Thank you for being with us and thank you for being here.

00:03 Although today the stock market is ahead of the leaders in the 70s,

00:07 the 30 is still trading at more than 5% of the market for the fourth week.

00:13 This is the best performance for the week we have been seeing for two months.

00:16 It is clear that there is still a return to Arab and foreign institutions,

00:19 which are the ones that are returning the index to the green area.

00:22 What is your comment on this closure?

00:27 First of all, welcome to all of you and to all the viewers.

00:30 During this week, the Egyptian stock market achieved the highest highs

00:38 in the market capital, the 30 and the 70.

00:43 If we look at the market capital, we will see that it is 1.885 trillion.

00:50 We are now winning about 100 billion pounds.

00:57 The 30 index has reached the highest peak it has not reached until now, 27,169.

01:06 The 70 index achieves very high numbers.

01:12 Therefore, we still say that the Egyptian stock market has a range of growth

01:17 and a range of growth, especially the same basic levels in 2023 and 2024.

01:24 We are still talking about the Egyptian state's compensation

01:29 in the decision to compensate the good not in the general economy for Egypt,

01:36 but for the Egyptian stock market.

01:38 The second thing is that the Egyptian stock market is moving according to the dollar exchange rate.

01:43 The dollar has increased by 58 pounds this week.

01:48 This is a reconstruction of the Egyptian stock market in the Egyptian stock market.

01:55 Therefore, I have basic support.

01:58 The dollar price has increased.

02:02 The third and most important thing is the results of the companies' work

02:05 that will be announced next week.

02:07 The results of very strong work.

02:09 The International Trade Bank announced that it has achieved 16 million pounds

02:14 compared to 12 million pounds.

02:16 In the past nine months, it has achieved 22 million pounds.

02:22 Therefore, it will achieve more with the results of the work.

02:25 The Bank of Blessing has achieved 71 billion pounds compared to 31 billion pounds.

02:32 In the past nine months, it has achieved 31 billion pounds.

02:35 Therefore, I am in favor of the results of the work and the compensation

02:40 in the increase of the dollar price.

02:42 This is a basic support for the Egyptian stock market

02:44 that it does not achieve 27,000 pounds, but it achieves 35,000 pounds.

02:50 I am waiting for the next period for the stock market to achieve 30,000 pounds,

02:55 not 27,000 pounds.

02:57 The delay in the announcement of the compensation that we have been waiting for since the end of 2023.

03:03 Do you think that it is still in compliance with the negotiations with the Bank?

03:09 Will the compensation process be requested by the Bank, Mr. Mohamed?

03:14 Or will we see you as an individual by the government?

03:17 Does the compensation that is required by the Bank now become a necessity?

03:22 I want to tell you that the compensation in the Egyptian economy

03:31 when the dollar price is reduced by one pound,

03:35 puts a million Egyptian citizens under the poverty line.

03:39 So I think that this request is not a request from the Egyptian government

03:45 because it knows the consequences of this compensation.

03:48 The consequences of this compensation are the following.

03:51 What is the price of compensation?

03:53 37,000 pounds as indicated, 38,000 pounds as indicated, this is a low price.

03:58 So if the Egyptian state is subject to compensation,

04:01 it is a wrong decision by 100%.

04:04 Because the compensation that we know in the economy and teach them in the economy

04:11 is that the Egyptian state is able to compensate when it has a very large sufficiency

04:18 and a sufficient dollar.

04:20 This means that the Egyptian state has a sufficient foreign currency

04:25 and therefore it starts to compensate.

04:27 So the positive effects will be on the economy.

04:30 But if the compensation starts without the Egyptian state knowing

04:35 the extent of the dollar surplus in front of it or that the dollar surplus is low,

04:41 then there is no need for compensation.

04:43 I will tell you, and I want one of the officials to hear me,

04:46 that if the compensation is done and there is no dollar surplus in the Egyptian state,

04:52 it has no meaning.

04:54 Because any increase of 40 pounds in the black market or the equilateral market

04:59 will increase by 70 pounds.

05:01 If the compensation is done to 50 pounds, the equilateral market will increase to 98 pounds.

05:08 So the compensation is not good for the Egyptian economy

05:12 unless the state has sufficient dollar surplus.

05:16 And therefore we come to the second criterion,

05:19 the EGPB announced two days ago that it will stop the dollar bonds

05:26 or will not accept the dollar bonds in the international markets.

05:30 This is a very big danger to the Egyptian economy.

05:33 So the EGPB puts pressure on the Egyptian state to compensate.

05:40 And it believes that the compensation is the driver of the Egyptian economy.

05:45 It is not the driver of the Egyptian economy.

05:47 The driver of the Egyptian economy is the oil exploration.

05:50 As the Egyptian state pointed out in the exploration of oil in the eastern Sahara,

05:55 agriculture and production are very strong sources for any global economy.

06:02 And therefore, if these basic criteria are supported,

06:08 the economy will be in the right direction.

06:11 One last question about the EGPB.

06:13 The withdrawal that happened today, in your opinion, is it a purchase temptation?

06:17 Despite the statements we heard from the president that the financing for the fifth generation license

06:23 will be self-funded and the revenues will not exceed 15%, Mr. Mohamed.

06:27 What do you think about the withdrawal that happened on the shelf today?

06:30 I want to tell you that the EGPB has a very sufficient share

06:38 in the financing of the 5G liquidity.

06:44 And therefore, the company can save $150 million.

06:50 I want to tell you that the results of the EGPB's work in the past nine months

06:56 have saved about 48%.

06:58 That is, it has saved about 9.1 billion pounds.

07:02 So the company is very strong.

07:04 The strategic company is very strong.

07:06 The impact of this on the price of the share is what puts us in a very important question.

07:12 Why is the announcement of positive results and the price of the share reduced?

07:17 Because in the global markets and the Egyptian market,

07:21 there is no such thing as the "quick market".

07:24 The quick market is to announce the results of the business at its time

07:29 and affect the results of the business.

07:31 That is, if the quick market is announced on the results of its work during this day,

07:37 it affects the share during the coming sessions.

07:40 But as long as we agree that we are not a quick market,

07:44 in the sense that the information is not in the hands of all investors

07:51 and is known by a group of other investors,

07:54 and therefore, when the announcement of a positive news for the share,

07:59 the Egyptian people do not react to this news

08:04 because the markets are judged by whether the market is quick or not.

08:10 And as long as we are a quick market,

08:12 the share market, when it announces the results of its work,

08:15 is positive, the price of the share is reduced.

08:18 Thank you, Mr. Mohamed Abdelhadi, CEO of Watiqa, for the financial papers.

08:22 You were with us from Cairo.

Category

Transcript

Recommended