SHUAA Capital psc is pleased to announce the expansion of the Cairo-based research and analytics taskforce at its Cairo-based subsidiary SHUAA Securities – Egypt (“SSE”). The firm’s rapidly evolving Research division has devised a unique multi sector-specific approach to stock coverage and initiation, with a targeted scope of covering all sectors listed.
With 2018 having been characterized by heightened volatility by historical measures across the Egyptian and regional markets, the need for more in-depth analysis of market intelligence and trends is growing. Thus, SHUAA Securities – Egypt is now building momentum and working towards helping its clients sail through market volatility, both locally and globally. On one hand, global markets volatility in 2018 has been driven by trade tensions between the United States and China, country-specific woes such as in Argentina and Turkey, and an overall tightening environment. On the other hand, the Egyptian market in 2018 also felt the brunt of a general risk-off sentiment towards emerging markets, despite pressing ahead with a successful economic reform program. Going forward, 2019 will likely be a balanced play on both the macro and the equity fronts. While key macro indicators, such as inflation, will play a key role in setting the scene for economic growth recovery and expansion, certain company-specific factors will drive stock prices.
The SHUAA Securities – Egypt Research division continues to be spearheaded by industry veteran Mr. Amr Hussein Elalfy, CFA who joined the Group mid-2018. With over 20 years of experience under his belt, Elalfy’s previous posts included Global Head of Research at Mubasher Financial Services and Director & Co-Head of Research at CI Capital. Elalfy, who started his career as an Analyst at King Street—a global investment management firm, holds a BBA (summa cum laude) in Finance & Investments from Baruch College and an MBA from the American University in Cairo (AUC). Under his leadership, the SHUAA Securities – Egypt Research division continues to work closely with its counterpart at the Group level at SHUAA Capital psc in the United Arab Emirates, exchanging information and expert views and insights on overall global and regional trade and economic headwinds affecting the status quo in their own respective home markets.
Amr Hussein Elalfy, CFA, SHUAA Securities – Egypt’s Head of Research, explains, “Handpicking the research team over the past few months, we have managed to carve out a niche for ourselves, offering innovative research products, including our bilingual flagship daily newsletter The Daily Beam which became a must-read for many. In terms of research coverage, we do our best to track economic and corporate events that drive the market in general and stocks in specific as our coverage expands, targeting up to thirty Egyptian stocks by year-end. Meanwhile, we scan Egyptian stocks using a bottom-up approach, which we believe can help us spot under-researched and neglected stocks that are often undervalued to eventually see their intrinsic value unlocked. With all that in mind, we call this year (2019) ‘a year of selectivity’ as explained in more details in our annual strategy note published in January.”
SHUAA Securities – Egypt and SHUAA Capital psc will be publishing a series of company- and sector-specific research during 2019, aimed at offering our discerning clientele a 360-degree approach to investments. Indeed, expanding research coverage is key to SHUAA’s brokerage business to complement its offerings in the MENA region.
