The EGX30 fell 0.1% on Thursday on turnover of EGP 1.4 bn (7% above the 90-day average). Foreign investors were net sellers. The index is down 21.1% YTD.

In the green: Export Development Bank of Egypt (+6.0%), Oriental Weavers (+3.5%) and Juhayna (+2.0%).

In the red: Emaar Misr (-2.6%), Ezz Steel (-1.3%) and Egyptian Iron & Steel (-1.2%).

EGX30

11,015

-0.1% (YTD: -21.1%)

USD (CBE)

Buy 15.6

Sell 15.7

USD at CIB

Buy 15.6

Sell 15.7

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

8,674.97

-0.2% (YTD: +3.41%)

ADX

4,964.94

-0.4% (YTD: -2.18%)

DFM

2,419.60

+0.8% (YTD: -12.49%)

S&P 500

3,699.12

+0.9% (YTD: +14.50%)

FTSE 100

6,550.23

+0.9% (YTD: -13.16%)

Brent crude

USD 49.25

+1.1%

Natural gas (Nymex)

USD 2.58

+2.7%

Gold

USD 1,840.00

-0.1%

BTC

USD 19,118.45

+2.2%

Emerging markets equities are expected to have a good run in 2021 as demand rises and large-scale vaccination efforts around the globe improve sentiment, said Invesco global markets strategist David Chao, according to Reuters. Rising inflation and better corporate earnings, which are expected to follow the availability of a vaccine, all point to a “continued rally of value stocks,” which is good news for EMs.

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