Pre-Trading Thoughts

Gasoline prices in Egypt, as of today, will rise by 7-11%, in light of Brent and exchange rate movements. The cost of mazut will increase by 20% to EGP6k per ton except for food and electricity producers, who will continue to be charged EGP4.2k per ton. Diesel prices will remain unchanged at EGP7.25 per liter. International wheat prices are heading to their lowest level in 17 months, which prompted Egypt to contract for larger quantities of the commodity. Banking sources reported to Als...