Mubasher: SHUAA Capital on Sunday announced that its Cairo-based subsidiary SHUAA Securities – Egypt has extended its research and analytics business.

The Dubai-based service provider’s research division has launched a multi sector-specific approach to stock coverage and initiation with the aim of covering all listed sectors, it said in a statement.

In 2018, global market volatility was driven by the US-China trade war, as well as by some crises in several countries such as Argentina and Turkey, and an overall tightening environment.

Meanwhile, the Egyptian market faced “a general risk-off sentiment towards emerging markets” although it carried on the implementation of the successful economic reform programme, SHUAA Capital noted, indicating that its Egyptian unit was working on building momentum as it sought to help its clients navigate through local and global markets’ volatility.

The Emirati firm expects 2019 to be “a balanced play” in terms of the macro and the equity fronts.

Key macro indicators, including inflation, are likely to play a major role in determining the economic growth recovery and expansion scene, while company-specific factors will drive stock prices, the research firm added.

“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,” said Amr Hussein Elalfy, SHUAA Securities – Egypt’s head of research.

Elalfy indicated that SHUAA Securities follows a bottom-up approach when scanning the Egyptian stocks to look for neglected undervalued stocks to eventually see their value unlocked.

SHUAA Securities – Egypt and SHUAA Capital aim to publish a series of company- and sector-specific research this year in order to offer their clients an integrated approach to investments, the statement pointed out.