Today: Ferchem is launching a new phosphate complex in Sokhna and United Bank is seeking USD 150 million for green projects, plus we have news on the temporary listing of six state-owned firms and the finalized prospectus for Banque du Caire’s IPO.

🔔 EGX30 ended +4.1% by market close at 48,593 points, the EGX70 rose 1.3% to 12,968 points, and the EGX100 rose 1.6% to reach 18,143 points.

💸 The number of transactions reached 206,104 spread across 2,427,881,586 stocks leading to a turnover of EGP 11.787 billion.

🏷️ Regional investors were the only net sellers.

📈 Top gainers for the market as a whole included Arab Co. for Asset Management And Development (+10.5%), Suez Canal Company For Technology Settling (+9.7%), and Orascom Construction (+8.7%).

📉 Top losers for the market included Valmore Holding -EGP (-5.5%), Cairo Educational Services (-5.3%), and Sidi Kerir Petrochemicals (-5.3%).

⬆️ Top gainers for EGX30 included Orascom Construction (+8.7%), TMG Holding (+8.1%), and Edita (+7.7%).

⬇️ Top losers included Valmore Holding -EGP (-5.5%), Egypt Aluminum (-5.0%), and Qalaa Holdings (-4.4%).

Other Important Stats: 

🧈 24K Gold reached EGP 8,214 per gram, down 0.1% day-on-day and down 1.9% month-on-month.

💲 The USD reached EGP 53.27 at the National Bank of Egypt.

🌱 Ferchem Misr for Fertilizers and Chemicals (FERC) announced yesterday that it is close to signing an agreement to set up a new EGP 400 million joint venture, Nile Ferchem for Phosphate Fertilizers, to develop an integrated phosphate complex in Sokhna. The project aims to process low-grade phosphate into higher-value fertilizers, with Ferchem holding a 60% controlling stake.

💰 United Bank (UBEE) is looking to secure around USD 150 million in financing from international development institutions over the next two years, as it ramps up funding for green projects and SMEs. The loans — currently under negotiation with four lenders — are expected to carry tenors of five to seven years, CEO Tarek Fayed told Asharq.

In IPO news:

🔔 The EGX added six state-owned companies to its temporary listings yesterday. The newly listed firms include El Nahda Industries, Egyptian Ferroalloys Company, El Nasr Glass, El Nasr Mining, Alexandria Co. for Refractories, and the Egyptian Company for Pipes & Cement Products, commonly known as Siegwart.

🏦 Egypt is moving closer to listing Banque du Caire after finalizing the IPO prospectus, marking a key step in the government’s privatization program. Timing for the offering will depend on market conditions to ensure strong valuation and investor demand, according to a senior official speaking to Al Arabiya Business.

Today:

Commercial International Bank - dividend distribution date for EGP 6 per share. The record date was April 6.

Arabian Cement - record date for EGP 5.34 per share. The distribution date is April 16.

Al Baraka Bank - record date for EGP 1.1 per share. The distribution date is April 16.

Egyptians for Housing and Development - record date for EGP 0.10 per share. The distribution date is April 16.

📝 The World Bank kept Egypt’s economic growth forecast for FY 2025-2026 steady at 4.3% year-on-year, according to its latest regional update. The lender cited strong growth in the first half of the fiscal year, steady private consumption, and rising private investment as key drivers. However, progress in controlling inflation has been slower than expected due to the ongoing regional conflict.

💵 The Central Bank of Egypt is set to renew a USD 2 billion Kuwaiti deposit due this month, a senior banking official told EnterpriseAM, with a preliminary agreement already in place. The deposit will continue under current terms until plans to convert USD 4 billion in Kuwaiti funds into direct investments in local sectors are finalized, the source said. If completed, the move will provide a crucial buffer for Egypt’s finances amid regional uncertainties.