Pre-Trading Thoughts

Pitch: We published this morning our earnings expectations for companies under coverage in 3Q23/FY23. CBE released balance of payments data for FY2022/23. Moody’s downgraded Egypt’s credit rating from B3 to Caa1, changing the outlook from negative to stable. Egypt needs to move forward with another currency devaluation or it will “bleed” reserves, IMF Managing Director said. CAPMAS is expected to release inflation data for September on Tuesday, 10 October. We expect urban annual inflati...