MARKET WATCH- Friday was a record-breaking day for emerging markets: EM stocks reached a record high during Friday’s session after their fastest rally in history amid a flood of liquidity and optimism over a global recovery driving risk appetite, says Bloomberg. The recovery from the Great Covid Crash of 2020 has added USD 10.8 tn to the market cap of EM stocks in just a little over nine months, bringing the MSCI benchmark index even higher than the peak it witnessed before the 2008 financial crisis.

EGX30

10,952

+1.1% (YTD: +1.0%)

USD (CBE)

Buy 15.63

Sell 15.73

USD at CIB

Buy 15.64

Sell 15.74

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

8,737

+0.8% (YTD: +0.6%)

ADX

5,163

+0.7% (YTD: +2.4%)

DFM

2,625

+0.8% (YTD: +5.4%)

S&P 500

3,824

+0.6% (YTD: +1.8%)

FTSE 100

6,873

+0.2% (YTD: +6.4%)

Brent crude

USD 55.99

+3.0%

Natural gas (Nymex)

USD 2.70

-1.1%

Gold

USD 1,835

-4.1%

BTC

USD 40,748

+0.1%

The EGX30 rose 1.1% on Wednesday on turnover of EGP 1.4 bn (5.3% above the 90-day average). Foreign investors were net buyers. The index is up 1% YTD.

In the green: SODIC (+5.9%), Sidi Kerir Petrochemical (+5.3%) and Ezz Steel (+4.3%).

In the red: GB Auto (-1.1%), Eastern Co (-0.8%) and Credit Agricole (-0.7%).

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