Pre-Trading Thoughts

EGX30 is trading at a weighted average P/E of 7.8x for 2021, equivalent to its lowest reading since January 2016; The market is trading at a forward 2022 P/E of 6.1x, while earnings are expected to grow at aggregated 20% in 2022, after surging 75% in 2021 Fed Chairman said that the tapering of monthly bond purchasing could wrap up “a few months sooner” than anticipated; Would open the door to interest rate hikes thereafter Canadian authorities have added Egypt, Nigeria, and Malawi to the trav...