Today: Abu Qir, Mopco, and Kima are set to benefit from a major Indian fertilizer import tender, while CIRA Education announces a SAR 450 million Saudi expansion, and Suez Canal Bank and TAQA Arabia post strong Q1 2026 profit growth driven by higher revenues and investment income. Let’s dive in.

🔔 EGX30 ended -0.3% by market close at 54,475 points, the EGX70 rose 0.7% to 14,807 points, and the EGX100 rose 0.6% to reach 20,679 points.

💸 The number of transactions reached 245,850 spread across 2,281,941,669 stocks leading to a turnover of EGP 11.325 billion.

🏷️ Regional investors were the only net sellers.

📈 Top gainers for the market as a whole included Misr Duty Free Shops (+20.0%), Tycoon Holding Company For Financial Investments (+14.2%), and Cairo Educational Services (+7.8%).

📉 Top losers for the market included Gogreen for Agricultural Investment (-14.3%), Alexandria Pharmaceuticals (-7.2%), and Subscription Rights Of Alexandria New Medical Center (-4.0%).

⬆️ Top gainers for EGX30 included Kima (+5.4%), Arabian Cement Company (+3.8%), and Heliopolis Housing (+3.1%).

⬇️ Top losers included TMG Holding (-1.8%), Edita (-1.7%), and E-Finance (-1.6%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,974 per gram, almost unchanged day-on-day but down 3.1% month-on-month.

💲 The USD reached EGP 52.77 at the National Bank of Egypt.

Egypt’s listed fertilizer producers are set to benefit from a major export opportunity after local traders secured roughly 15% of a large Indian import tender for nitrogen fertilizers scheduled for June delivery, according to industry sources cited by Asharq. The allocations are expected to support export revenues for key EGX-listed names including Abu Qir Fertilizers (ABUK), Misr Fertilizers Production Company “Mopco” (MFPC), and Egyptian Chemical Industries “Kima” (EGCH), amid a sharp rally in global urea prices.

According to the report, Egyptian suppliers secured contracts to deliver between 330 thousand and 350 thousand tons of fertilizers to India as part of a broader 2.5 million-ton international tender. Abu Qir, Mopco, and Egyptian Fertilizers reportedly accounted for around 240 thousand tons of the awarded volumes, while Alexandria Fertilizers “AlexFert” (part of EGX-listed Valmore Holding), Helwan Fertilizers, and KIMA secured nearly 100 thousand tons combined.

Higher prices support revenues — but margins face pressure:

The timing is particularly favorable for Egyptian exporters, as global urea prices have surged following supply disruptions across key producing regions. India accelerated purchases after several local plants reduced operations due to weaker LNG supplies from Qatar, while ongoing geopolitical tensions in the Gulf and Iran have further tightened global availability.

Industry officials cited by Asharq said urea prices in the latest Indian tender ranged between USD 850 and USD 880 per ton, compared with roughly USD 490 per ton for Middle East urea before the outbreak of the Iran-related conflict.

However, the earnings upside for Egyptian fertilizer producers may be partly offset by recent government measures. The government has imposed a USD 90-per-ton export fee on nitrogen fertilizers just as producers are benefiting from global shortages and elevated fertilizer prices.

The move comes alongside higher natural gas costs, which account for roughly 70% of fertilizer production expenses, potentially creating a margin squeeze for EGX-listed fertilizer producers even as export revenues climb. The policy also reflects the government’s broader effort to capture part of the sector’s windfall gains while safeguarding local supply availability.

Stocks react to the announcement:

Kima shares rose 5.4% by the end of yesterday’s session following the announcement, becoming the EGX30’s top gainer. The stock is now up 2.5% since the start of 2026.

Mopco advanced 3.2%, bringing its gains since the beginning of the year to 48%, while Abu Qir Fertilizers and Chemical Industries rose 2.6%, with its share price up 68.6% since the start of 2026.

Valmore Holding (VLMRA), the parent company of AlexFert, gained 1.1% by the end of trading yesterday, bringing its gains since the start of the year to 31%.

Fertilizer exports continue upward momentum:

The new Indian contracts come as Egypt’s fertilizer exports continue to accelerate. Sector exports rose 20% in 2025 to USD 2.04 billion, supported by strong international demand and supply shortages across global markets.

CIRA Education (CIRA) plans to invest around SAR 450 million (USD 120 million) to expand its footprint in Saudi Arabia in partnership with the country’s Public Investment Fund, as it accelerates the development of a regional education platform across the Gulf, company board member Ahmed Kalla said in an interview with Al Borsa.

In the Kingdom, the company is targeting an additional 20,000 students through the opening of up to five schools and potential acquisitions of up to two existing operators.

Months in the making:

Kalla said the company launched its operations in Saudi Arabia last August and is targeting, in the next phase, the development of a regional education platform to capitalize on rising demand for high-quality education services and increased government spending on education systems across the Gulf.

A Tadawul listing down the line:

The company plans to list its shares on Saudi Arabia’s Tadawul exchange within six years, in line with strong expansion in the Kingdom’s education sector, Kalla said.

Domestic growth continues:

Alongside its regional expansion, CIRA is also planning to grow its student base in Egypt by 75,000 to 100,000 learners. This comes after the company reported a 67% year-on-year surge in normalized net profit to EGP 678.3 million in H1 FY 2025/26, supported by a 31% increase in revenues to EGP 2.8 billion, driven mainly by the higher education segment.

Stock reacts to the announcement:

The company’s share price rose 6.2% by the end of yesterday’s session following the announcement of the expansion plans, bringing its gains since the start of the year to 36.8%.  This comes as the education sector was the stock market’s top gainer in April, posting a 51.7% monthly gain. Compared to levels recorded 12 months ago, CIRA shares are now up 70%.

🏦 Suez Canal Bank (CANA) reported a 25% year-on-year increase in net profit for Q1 2026 to reach EGP 1.63 billion, according to its latest financial results. The bank’s net income from interest, fees, and commissions climbed to EGP 2.94 billion from EGP 2.01 billion in the same period last year, supported by a sharp jump in investment income, which surged to EGP 1.71 billion from EGP 556.5 million in Q1 2025. The company’s share price is up 38.8% since the start of 2026, and is up 128.6% compared to levels recorded a year ago.

📊 TAQA Arabia (TAQA) reported a 65% year-on-year increase in net profit for Q1 2026 to EGP 224.55 million, according to its latest financial results. Revenue growth also accelerated during the quarter, rising to EGP 7.12 billion from EGP 5.37 billion a year earlier. The company’s share value is down 5% since the start of 2026, but is still up 10.3% compared to levels recorded 12 months ago.

Tomorrow:

Pyramisa Hotels and Resorts - distribution date for EGP 4 per share. The record date was May 10.

Nozha International Hospital - record date for 0.239 bonus shares per original share. The distribution date is May 14.

14 May:

Alexandria Container and Cargo Handling Co - distribution date for EGP 0.991 per share. The record date was May 11.

Edita Food Industries - distribution date for EGP 0.863 per share. The record date was May 11.

Juhayna - distribution date for EGP 0.4 per share. The record date was May 11.

United Company for Housing and Development - distribution date for EGP 0.125 per share. The record date was May 11.

💰 The government has submitted updated structural reform commitments to the International Monetary Fund (IMF) ahead of the Fund’s June review mission, which could unlock around USD 3.3 billion in financing, three senior government officials told EnterpriseAM. The revised package includes changes to the State Ownership Policy, new tax measures, and market-linked industrial gas pricing, as the IMF pushes Egypt to accelerate privatization and reduce the state’s role in the economy.

⛽ Egypt has allocated around USD 5.5 billion for fuel imports in FY2026/27 — up 37.5% from current-year targets — as rising global oil prices linked to the Iran war increase pressure on the country’s energy bill, a government official told Asharq. The plan includes imports of diesel, LPG, and gasoline to help cover the gap between domestic production and growing consumption across electricity generation, transportation, and industry. The higher allocation comes after Egypt raised domestic fuel and gas prices by between 14% and 30% earlier this year, part of broader efforts to contain subsidy costs as the government navigates mounting energy demand and external pricing shocks.