Research

Wealth of information

More than 75 Stocks

Covering all MENA

Quality research lies at the heart of Beltone Financial’s offerings. Our research Department is driven by a strong belief in the principles of clarity, accuracy, integrity and specialization. This ensures that all our offerings provide an unparalleled level of value, sophistication and comprehensiveness in a timely manner.

At Beltone’s Research Department, we also strive to ensure that all our products are short, precise and concise. We highly value clarity and creativity and are on a constant mission to enhance the efficiency of our reports on all levels.

We understand the importance of utilizing our on-the-ground access to the latest stories and happenings in the Egyptian market to provide for unconventional and valuable insight on select listed Egyptian companies. In this regard, our bottom-up analysis covers equities across Egypt’s Financials, Consumers, Construction and Building Materials, Real Estate, Telecoms, Healthcare and Fertilizers sectors.

Moreover, our top-down analysis always strives to be a cut above the rest and has a proven track-record of accurately gauging the country’s current macro picture.

Our analysts also regularly conduct fact-finding visits to companies and business leaders across the spectrum of coverage in Egypt. Through Connect, our unique virtual corporate access platform, our analysts also employ cutting-edge technology to deliver their insights to a broad client base and erect bridges of communication with the senior management of companies in Egypt. This is not to mention our regular conduction and hosting of roadshows, events, conferences and one-on-one conference calls.

Product offerings

Company-specific reports
Our Valuation Stories provide initiation analysis and valuation updates on select companies that we cover. Our insight in these reports is quite deep and sophisticated, but also always as readable and concise as possible.
These short, structured reports provide unrivalled analysis of the quarterly financial results of select companies under our coverage and how results are set to affect stock performance. They also deliver our expectations for future quarters
Macro & Equity Strategy reports
This product is published every Sunday morning, updating you with our latest views on the best investment strategy and high conviction Buy recommendations. The product fills a gap that is not served by other products, such as Valuation Story and Our Take on Results (which cater to strategic allocation decisions) and First Impression (which provides the analyst’s immediate take on a relevant piece of information).

Cutting Long Stories Short provides a compilation of our top picks for the week. It seeks to deliver timely advice on short-term tactical trades within the fund manager’s longer term allocation, by merging valuation insights and metrics, short-term catalysts, news and trading dynamics in one shot

Our Egypt Equity Strategy is event-driven and provides our analysts’ views on how select companies under our coverage are positioned in light of the prevailing macro circumstances.
This product primarily aims at monitoring daily, weekly and monthly data to gauge changes in EGP liquidity dynamics. The ultimate purpose of the exercise is to detect inflection points in the business cycle. The data points used reflect our reading of monetary dynamics, starting from the creation of reserve money by the CBE and ending in changes in monetary aggregates and interest rates. Obviously, changes in bill and bond yields, represent the fastest gauge of changes in liquidity dynamics, whether due to easier monetary policy adopted by the CBE or recovery in the EGP carry trade.

This offering is issued every Monday morning. The note is either flagged TIGHT or LOOSE, depending on both changes in our selected variables as well as our on-the-ground intelligence. Flagging the LOOSE sign should bode well for equities over the medium-term.

Our macro reports are also event-driven and provide a big-picture, tactical and strategic, overview of Egypt’s economy.
General market products
Our First Impression product delivers our analysts’ immediate take on the market, macro events or stock-moving news. First Impression is published throughout the day.
Egypt in Sight is published every day after the session and is your guide to Egypt’s daily market happenings, offering you:

EGX100 and EGX30 charts

Alerts for stocks that traded on particularly high volumes last session

A heat map of the Top 20 traded stocks listed by turnover.

A breakdown of the day’s investor types

Buyers vs. sellers

The market buzz

An arbitrage monitor

Egypt in Sight also delivers our outlook on tomorrow’s session, including:

A daily sentiment monitor

What to watch out for during tomorrow’s session

Our thoughts on the market

Technical trades

The weekly calendar

Insider trading

Published every day before the session begins, this product offers a compilation of the day’s most important headlines in Arabic

Coverage


Research Publications


Company Coverage | MENA Region


* As of September 30th, 2016