Today: B Investments enters the higher education sector sector with a multi-million investment, Palm Hills is partnering with a UAE company on a big project in Ras El Hekma, and Fawry is launching a new micro insurance product.

🔔 EGX30 ended -1.1% by market close at 51,813 points, the EGX70 rose 0.6% to 13,501 points, and the EGX100 rose 0.2% to reach 18,860 points.

💸 The number of transactions reached 202,452 spread across 2,065,132,348 stocks leading to a turnover of EGP 8.436 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included El-Nile Co. For Pharmaceuticals And Chemical Industries (+20.0%), Egyptian for Tourism Resorts (+20.0%), and Arab Real Estate Investment Co (+16.2%).

📉 Top losers for the market included Credit Agricole Egypt (-12.3%), AMOC (-3.9%), and Alexandria Containers and Goods (-3.9%).

⬆️ Top gainers for EGX30 included Ibnsina Pharma (+3.7%), Rameda (+2.2%), and Palm Hills Developments (+1.0%).

⬇️ Top losers included AMOC (-3.9%), Raya Holding (-2.3%), and Telecom Egypt (-2.3%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,981 per gram, down 0.9% day-on-day and down 1.0% month-on-month.

💲 The USD reached EGP 51.93 at the National Bank of Egypt.

📚 B Investments (BINV) will invest EGP 560 million in “European Universities in Egypt” through share purchases and a capital increase, the company said in a statement yesterday. The deal marks its entry into the higher education sector via an international university platform.

🏖️ Palm Hills Developments (PHDC) and the UAE’s Miran Hills are launching a 5.65 million square meter project in Ras El Hekma with a 4.8 kilometer beachfront, according to a disclosure to the EGX yesterday .  The development includes hotels, sports facilities, and commercial areas, with sales set to begin in summer 2026.

✅ Fawry (FWRY) has received approval to launch a microinsurance subsidiary with EGP 60 million capital and a 90% ownership stake, according to a company press release. The unit will offer low-cost insurance products for health, life, accidents, and assets targeting gig workers and small businesses. The move expands Fawry’s embedded finance model by distributing insurance directly through its existing digital platform, reaching its 24 million users without building a traditional sales force.

🤝 A consortium including Abu Qir Fertilizers (ABUK), Orascom Construction (ORAS), and United Energy Group signed an MoU to develop a green hydrogen hub in Alexandria, Zawya reported. The plan includes feasibility studies for 500 megawatts of renewable energy to produce hydrogen for low-carbon ammonia production.

Earnings + IPO news:

⬇️ Misr Chemical Industries (MICH) reported a 7% decline in net profit to EGP 397.38 million, according to its latest financial results. Revenue rose to EGP 813.43 million from EGP 781.9 million, supported by higher sales despite cost pressures and weaker investment income.

⬇️ Taaleem Management Services (TALM) reported an 18% decline in net profit to EGP 399.47 million, according to a statement to the EGX. Revenue increased to EGP 1.46 billion from EGP 1.08 billion, reflecting strong growth in operations despite margin compression.

📝 The Egyptian government plans to sell a 20% stake in Misr Life Insurance for a target of EGP 14 billion, Investment Minister Mohamed Farid said yesterday. This is set to be the largest and most influential event for the market, with direct expected impacts on liquidity, the privatization program, and index activity.

April 22:

Credit Agricole - distribution date for EGP 3.32 per share. The record date was April 19.

Abu Qir Fertilizers - distribution date for EGP 1 per share. The record date was April 19.

Alexandria Mineral Oils Co - distribution date for EGP 0.20 per share. The record date was April 19.

Odin Investments - distribution date for EGP 0.075 per share. The record date was April 19.

Misr Cement - record date for EGP 5 per share. The distribution date is April 27.