Today: We have updates from Misr Hotels, which announced a multi-billion expansion plan to renovate the Nile Ritz-Carlton hotel, & Arab Company for Asset Management, which announced yesterday that it swung to profitability in Q1. Let's dig in.

🔔 EGX30 ended -0.2% by market close at 52,585 points, the EGX70 fell 0.2% to 15,728 points, and the EGX100 decreased 0.2% to reach 21,550 points.

💸 The number of transactions reached 192,129 spread across 1,959,260,817 stocks leading to a turnover of EGP 9.289 billion.

🏷️Local investors were the only net sellers. 

📈 Top gainers for the market as a whole included ASEC Company For Mining (+13.6%), Misr Hotels (+11.1), Ceramic & Porcelain (+8.7%).

📉 Top losers for the market included Tycoon Holding (-20.0%), Pioneers Properties For Urban Development (-12.8%), and Subscription Rights Of Aspire Capital (-8.1%).

⬆️ Top gainers for EGX30 were GB Corp (+7.9%), Qalaa Holdings (+3.0%), and Telecom Egypt (+2.3%).

⬇️ Top losers for EGX30 included Abu Qir Fertilizers (-4.1%), Kima (-3.3%), and Emaar Misr (-2.9%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,862 per gram, down 0.5% day-on-day and down 12.4% month-on-month.

💲 The USD reached EGP 49.77 at the National Bank of Egypt.

Majority state-owned Misr Hotels Company (MHOT) plans to invest EGP 3 billion (roughly USD 60 million) to redevelop and refurbish the Nile Ritz-Carlton Cairo, the 329-room luxury property overlooking the Nile Corniche in downtown Cairo, a company official told Asharq.

Fast-tracking the timeline:

The company has compressed its execution schedule to 12 months from an originally planned 20, the official said, a decision driven by the hotel's consistently high occupancy rates. The accelerated pace is designed to keep the property running throughout the renovation without disrupting hotel operations.

Bringing in American expertise:

Misr Hotels has contracted a US-based consulting firm to develop room design samples and mockups ahead of formal approval, with the renovation set to follow Ritz-Carlton's global brand standards once finalized. The official said the work is aimed at upgrading room efficiency, facilities, and hotel services, sharpening the competitive edge of a property regarded as one of Egypt's premier luxury hotels — one that has operated under Ritz-Carlton management since 2008, having opened in 1959 under Hilton.

Profits on the rise:

The planned overhaul comes as Misr Hotels' underlying business continues to strengthen. The company posted net profit of EGP 1.148 billion in the first nine months of its current fiscal year (July 2025-March 2026), up 3.53% year-on-year. Revenue over the same nine-month stretch climbed to EGP 1.51 billion, up from EGP 1.42 billion a year earlier.

Recent stock performance:

MHOT shares rose 11.1% in the latest trading session following the news, bringing its gains since the beginning of the year to 40.6%.The stock is up 32.7% compared to levels recorded a year ago.

Arab Company for Asset Management and Development (ACAMD) reported net profit of EGP 172.83 million for the January-March 2026 period, compared with a net loss of just EGP 86,150 in the same quarter of 2025, according to an EGX disclosure.

 Revenue told an even more striking story, surging to EGP 321.13 million by the end of March 2026 from a mere EGP 345,010 in the year-ago quarter — a leap reflecting a marked improvement in the company's operating performance.

Shareholders sign off on land deals:

The company's ordinary general assembly recently approved a series of land sale and development agreements. Shareholders ratified a development contract for land in Damanhour with Al-Shamla Company for Global Technology and Business One Company, as well as a separate development agreement for land in Tanta with Tatweer Company for Real Estate Asset Management.

Cashing out of Meet Bara:

On the divestment side, the board unanimously approved the sale of an 87,500-square-meter plot of land in Meet Bara to Naql Company for General Trade and Contracting, in a deal worth EGP 131.25 million under a contract signed on March 15, 2026.

Recent stock performance:

ACAMD shares have gained 32.2% since the beginning of 2026, despite dropping 3.0% in the latest trading session. The stock is up 171.2% over the past 12 months.

Dates to keep an eye out for

Tomorrow:

Abu Qir Fertilizers - distribution date for EGP 1.30  per share. The record date was April 19th.

National Housing for Professional Syndicates - record date for EGP 1.75 per share. The distribution date is June 29.

The United Bank - distribution date for EGP 0.75 per share. The record date was June 21.

EFG Holding - record date for EGP 0.278 per share. The distribution date is June 29.

Kafr El Zayat Pesticides - record date for 0.2 bonus shares per original share. The distribution date is 25 June.

Suez Canal Company for Technology Settling - record date for EGP 13 per share. The distribution date is June 29.

E-Finance - record date for EGP 0.119 per share. The distribution date is June 29.

Al Shams Housing and Urbanization - record date for EGP 0.050 per share. The distribution date is June 29.

28 June:

Eastern Company - distribution date for EGP 0.45 per share. The record date was May 20th.

29 June:

Misr Cement - distribution date for EGP 5 per share. The record date was April 22nd.