Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: QNB hits EGP 30 bn in annual profit, building materials lead EGX gains with a 238% sector surge, while Acrow Misr officially files for delisting and ADIB Egypt concludes its capital increase with a 96.8x oversubscription.

🔔 EGX30 ended -1.43% by market close at  43,058 points, the EGX70 fell 2.44% to 12,396 points, and the EGX100 fell 2.09%  to reach 16,648 points

💸 The number of transactions reached 136,324 spread across 1,752,089,210 stocks leading to a turnover of EGP 4.7 billion.

🏷️ Local investors were the only net buyers.

📈Top gainers across the broader market Alexandria Spinning & Weaving (+5.83%), Subscription Rights Of Atlas for Investment and Food Industries (+5.63%), and Arab Valves Company (+5.22%).

📉 Top losers: International Co For Investment & Development (-7.19%), Arabia for Investment and Development (-7.19%), Samad Misr -EGYFERT (-6.34%.)

⬆️ Top gainers for EGX30 included E-finance (+3.7%), Valmore Holding -USD (+0.9%), and Palm Hills Developments (+0.5%).

⬇️ Top losers included: Beltone Holding (-4.1%), Misr Cement (-4.0%), and Juhayna (-3.7%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,041 per gram, down 0.96% day-on-day but up 6.86% month-on-month.

💲 The USD reached EGP 47.27 at the National Bank of Egypt.

💰Qatar National Bank (QNBE) reported a 13.6% year-on-year increase in consolidated net profit for 2025, reaching EGP 30.065 billion compared to EGP 26.462 billion in 2024. This growth was driven by net interest income rising to EGP 49.43 billion (up from EGP 41.11 billion) and fee and commission income climbing to EGP 6.2 billion (up from EGP 5.6 billion).

🏗️ Egypt’s building materials sector dominated the EGX in 2025, with industry experts telling Asharq that the sector surged over 238% due to a domestic construction boom and record-breaking exports. This rally was fueled by higher cement prices (averaging USD 80/ton) and lower production costs, leading to massive stock price jumps for key players: Misr Cement Qena (MCQE) skyrocketed by 639%, Misr Beni Suef Cement (MBSC) climbed 386%, Arabian Cement (ARCC) rose 194%, and Sinai Cement (SCEM) gained 125%.

✅ Following the approval of its general assembly, Acrow Misr for Scaffolding and Formwork (ACRO) has officially submitted a request to delist from the EGX.. The move traces back to a board decision in December, which established an exit price of EGP 129.29 per share for shareholders wishing to sell—a significant increase from the initial EGP 100 cap originally proposed for the buyback.

💸 The second-phase of Abu Dhabi Islamic Bank’s (ADIB) capital increase was a success, with the remaining 4.36 million shares seeing a 96.8x oversubscription rate. Due to the high demand, shares will be allocated at a ratio of approximately 0.01033 per subscribed share, and the bank has committed to refunding all excess payments within a week.

💰 Egypt is eyeing a return to international debt markets with a potential USD 1–1.5 billion Eurobond sale as early as this month, a senior official told EnterpriseAM. The government aims to take advantage of improved borrowing costs and a six-year low in risk premiums, while also planning a USD 500 million Green Samurai bond by June to diversify funding alongside incoming liquidity from the EU and IMF.

📝 In its latest Global Economic Prospects report, the World Bank maintained its GDP growth projection for Egypt for FY 2025-2026 at 4.3%, citing a rebound in private demand as currency and import hurdles fade. The bank expects a shift toward private-sector-led growth to push the GDP expansion to 4.8% the following year, though it warns that regional conflict and sudden shifts in global investor sentiment remain significant risks to this recovery.

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.