The EGX30 rose 0.7% yesterday on turnover of EGP 979 mn (27.5% below the 90-day average). Foreign investors were net sellers. The index is down 23.7% YTD.

In the green: Sidi Kerir Petrochemicals (+5.5%), Ezz Steel (+4.0%) and Egyptian Iron & Steel (+3.2%).

In the red: Sodic (-0.7%), Export Development Bank (-0.2%) and Telecom Egypt (-0.2%).

Asian markets are solidly in the green this morning and futures suggest Europe and Wall Street will follow suit, thanks in part of optimism about a vaccine rollout and approval in the US House of Representatives of a new covid aid bill. Stocks jumped to record highs on Wall Street yesterday on news that Trump had signed the bill, averting a government shutdown in the process.

EGX30

10,659

+0.7% (YTD: -23.7%)

USD (CBE)

Buy 15.67

Sell 15.77

USD at CIB

Buy 15.66

Sell 15.76

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

8,715.38

-0.3% (YTD: +7.5%)

ADX

5,106.31

+0.2% (YTD: +7.1%)

DFM

2,514.60

-0.04% (YTD: -4.1%)

S&P 500

3,739.89

+1% (YTD: +17.5%)

FTSE 100

6,502.11

+0.1% (YTD: -12.1%)

Brent crude

USD 50.89

-0.8%

Natural gas (Nymex)

USD 2.32

-7.7%

Gold

USD 1,879.60

-0.2%

BTC

USD 27,011.58

+0.5%
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