Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: Misr Oils back in profit, El Arabia sees steep decline, Nasr Civil Works inches up, and SODIC plans major deal with EFG.

🔔 EGX30 ended +1.15% by market close at 39,065 points, the EGX70 rose 0.27% to 12,196 points, and the EGX100 is also up 0.44% to reach 16,061 points.

💸 The number of transactions reached 149,250 spread across 1,546,818,160 stocks leading to a turnover of EGP 6.7 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Sharm Dreams Co. for Tourism Investment (+16.63%), National Housing for Professional Syndicates (+9.38%), and Copper For Commercial Investment & Real Estate Development (+6.62%).

📉 Top losers for the market included Misr Chemical Industries (-12.98%), Saudi Egyptian Investment & Finance (-6.91%), and Alexandria Pharmaceuticals (-6.45%).

⬆️ Top gainers for EGX30 included TMG Holding (+4.8%), Orascom Development (+4.4%), and Telecom Egypt (+3.2%).

⬇️ Top losers included Juhayna (-2.1%), Ibnsina Pharma (-1.2%), and Egypt Aluminum (-1.1%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,047 per gram, down 1.36% day-on-day but up 0.33% month-on-month.

💲 The USD reached EGP 47.31 at the National Bank of Egypt.

💸 Misr Oils and Soap (MOSC) returned to profitability in the first quarter of the current fiscal year, posting a net profit of EGP 9.5 million compared to a loss of EGP 12.45 million in the same period the year before. The company’s revenues also increased to EGP 828.08 million from EGP 785.47 million in the same period last year, reflecting stronger sales performance. MOSC’s shares have gained 218% since the start of the year.

🏗️ El Arabia Engineering Industries (EEII) saw its net profit plunge 78% year-on-year to EGP 8.78 million in the first nine months of 2025, down from EGP 39.36 million in the same period last year. The company’s sales also dropped to EGP 159.58 million from EGP 195.07 million, reflecting weaker demand. El Arabia’s stock value has grown 53.79% year-to-date.

🛠️ Nasr Company for Civil Works (NCCW) reported a 5.3% year-on-year increase in net profit to EGP 5.78 million in the first nine months of 2025, up from EGP 5.49 million a year earlier. The company attributed the rise to compensation and price adjustments received from contracting authorities, even as revenues fell 24% to EGP 211.76 million. NCCW’s shares rose 138% since the start of the year.

👀 SODIC (OCDI) plans to discuss a potential financial leasing agreement worth up to EGP 3 billion with EFG during its ordinary general assembly meeting on Sunday, November 23, 2025. The agenda also includes reviewing several related-party transactions with Beltone Holding and its subsidiaries, covering the sale of a building in the Eastown project, six office units in The Portal at SODIC West, and the lease of 100 parking spaces in the EDNC complex in New Cairo. The company’s share value is up 17.73% since the beginning of 2025.

📝 Prime Capital said that Tawasoa for Factoring’s private placement of 15 million shares was oversubscribed around 3.2 times, while the public offering of 3.7 million shares saw 2.7 times coverage by the end of the second subscription day. Remember, the company plans to float 25% of its capital at EGP 1.73 per share on Egypt’s NILEX exchange for small and medium enterprises. A company source told Al Mal that Tawasoa is also considering a foreign-currency loan from Afreximbank and the IFC to support exports and introduce international factoring services.

November 5, 2025 (today):

Mansourah Poultry (MPCO) - record date for 0.52 bonus shares per original share. The distribution date is Thursday, November 6.

November 6, 2025:

North Cairo Mills (MILS) – dividend distribution date for EGP 3 per share. The record date was Sunday, November 3.

Middle Egypt Flour Mills (CEFM) – dividend distribution date for EGP 5 per share. The record date was Sunday, November 3.

Misr Chemical Industries (MICH) – dividend distribution date for EGP 2 per share. The record date was Sunday, November 3.

Alexandria Pharmaceuticals and Chemical Industries (AXPH) – dividend distribution date for EGP 62.95 per share. The record date was Sunday, November 3.

⬆️ Egypt’s non-oil private sector saw its mildest contraction in eight months in October, as the Purchasing Managers’ Index (PMI) — which measures business activity, orders, and employment — rose to 49.2. The slower decline in output and new orders was driven by stronger manufacturing, though rising wages and input costs added inflationary pressure. (Read more in our Deeper Look section.)

🛢️ Egypt yesterday announced a new international bid round for oil and gas exploration in four Red Sea blocks, aiming to attract foreign investment and boost domestic gas output, according to the Oil Ministry. The tender — launched by Ganoub El Wadi Holding Petroleum through Egypt’s online exploration portal — will for the first time apply a new investor-friendly production-sharing model based on profitability factors. Egypt expects to resume gas exports by 2027, as local production rises to around 6.6 billion cubic feet per day.

Egypt’s non-oil private sector showed signs of stabilization in October, with the S&P Global Egypt Purchasing Managers’ Index (PMI) inching up to 49.2 from 48.8 in September. The latest reading reflected the softest drop in output since February, as new orders declined at a slower pace and manufacturing activity helped offset weakness in services, retail, and construction.

What this means:

The PMI serves as a key barometer of economic health. A reading below 50 indicates that business activity contracted compared to the previous month, while a figure above 50 reflects growth.

While the PMI remained below the 50 mark — signaling a mild contraction — the improvement suggests that overall business conditions have steadied, keeping GDP growth broadly intact at the start of the final quarter of 2025. Firms cited some recovery in market demand and a more stable flow of orders, particularly in the industrial sector.

Hiring holds steady amid cautious optimism:

After months of weak employment trends, companies maintained near-stable workforce levels, marking a third rise in hiring over the past four months. Purchasing activity also leveled off following a prolonged contraction, though some firms ran down inventories to meet incoming orders.

Rising costs remain a concern:

Input cost inflation accelerated to a five-month high, mainly due to faster wage increases — the sharpest since October 2020 — alongside higher supplier and fuel prices. Many businesses, however, absorbed part of these increases to protect demand, keeping selling price inflation modest.

Outlook:

Business sentiment improved slightly, with firms expressing greater confidence in domestic demand and economic conditions ahead. According to S&P Global’s David Owen, the PMI data points to continued GDP growth around 4.6% year-on-year, though rising cost pressures could limit momentum if companies struggle to pass on higher expenses.

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.