Egyptian Financial & Industrial Rises 5%; Trading Volume Surges

CAIRO (Capital Markets in Africa) – Egyptian Financial & Industrial Co. rose 4.6 percent, the biggest gain since Oct. 8, 2017 compared with end-of-day price changes and 30 times the country’s benchmark index.

The shares climbed to EGP 18.10 from EGP 17.31. Trading volume was almost seven times the 30-day average of 132,061 for this time of day.

Egyptian Financial & Industrial’s move compares with little change in the Egyptian Exchange EGX 30 Price Index, which was up 0.15 percent, and the 0.8 percent decline in the MSCI Emerging Markets Europe, Middle East and Africa Index. The stock is 22 percent below the Bloomberg consensus one-year target price.

In the past year, the stock had a similar or greater gain 14 times at the close and continued to rise the next day by an average 1 percent. It advanced eight times for an average 3.1 percent, and declined six times for an average 1.7 percent.

Egyptian Financial & Industrial trades at almost seven times trailing 12-month earnings and almost seven times its estimated profit for the coming year. Its stock advanced 5 percent so far this year and gained 98 percent in the past 52 weeks.

Egyptian Financial and Industrial Company produces chemicals and phosphate-based fertilizer. The Company has production facilities located in Kafr El Zayat and Assuit. These facilities produce sulfuric acid and super phosphate fertilizer. A majority of the sulfuric acid is used by the Company to make fertilizer, while a small percentage is sold.