In today's Pre-Session Views:

• Strategy| PHDC investors have already shaved off the fees imposed by NUCA from MCAP. Time to rebuild long positions
• EFID| EFID exclusion from EGX30 supports short EFID call
• TMGH| SouthMed shouldn’t be exposed to NUCA fee risk
• ETEL| 2Q25 expectations – no surprises
• DSCW| (BUY- FV: EGP5.5/share) 2Q25 recovery led by volumes; margins improve q/q but remain under pressure, foreign entrants viewed as strategic upside
• MCQE| EGX30 inclusion adds fuel to fire as stock crawls towards our end 2025 FV of EGP67.7/share