Pre-Trading Thoughts

We published this morning our earnings expectations sheet for companies under coverage in 1Q24/FY2. For 1Q24, aggregated net profit will increase 40% YoY and 27% QoQFor FY24, aggregated net profit will increase 38% YoYStocks trading at P/E 2024 less than 5x: ESRS, POUL, CANA, HDBK, and ADIB (sorted from lowest P/E).The government said it will develop a payment strategy to reduce arrears owed to international oil companies. Egypt has collected up to USD760 million from the initiative to facili...