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Pre-Trading Thoughts 19/9/2021

- EKHO trades today in EGP; OW on target price of EGP25.30
- Egypt signs with Libya USD33 bn worth of contracts; SWDY and ORAS key beneficiaries
- Iron ore prices decline; Spreads increase ST; Keep an eye for medium term spreads
- Egypt is off the UK red list
- JUFO releases 2020 detailed results; Stock trading at 10.4x 2021 P/E
- EAST renews JTI toll manufacturing contract; Stock trading at 4.9x 2022 P/E
- One million Egyptian workers head to Libya next month; SPMD will handle their pre-employment covid testing
- TALM to invest EGP430mn over next 2-3 years
- Ethydco (20% owned by SKPC) to participate in two EGP3.5 bn projects
...more