Cairo – Mubasher: It is expected that 2019 will be see gains in Egyptian stocks particularly those in the real estate, consumer, and educational sectors, an EFG-Hermes Holding equities strategist has said, noting that these are the sectors his company would be focusing on this year.
“If we see continued fall in inflation and interest rates, we should see some pick up in [the real estate] sector,” Mohamad Al Hajj, equities strategist at the research arm of EFG-Hermes Holding, told Bloomberg in an interview.
He named stocks such as Juhayna and Domty as the stocks to look out for in 2019, adding that should the property sector see gains, stocks like Talaat Mostafa Holding Group (TMG) and Emaar Misr would be among those to keep an eye on.
While banks continue to post strong earnings growth, Al Hajj noted that EFG Hermes would not be focusing on that sector this year.
