Pre-Trading Thoughts

The EGX30 climbed 2.5% during trading yesterday, leaving it just shy of 24k by the end of the session. The benchmark index is up 64% year-to-date in EGP terms. The combination of a widely anticipated devaluation and concerns about the impact of the war in Gaza have caused the rally to accelerate over the past month. The EGX30 and gold have both climbed more than 20% in the past five weeks alone. The prospect of the EU receiving more liquefied natural gas (LNG) from Egypt in the short and medi...