GLOBAL M&A WATCH- It’s a record-breaking year for domestic M&A in China, with the country seeing USD 77.5 bn of transactions so far this year, the FT says. Powering the activity: the covid recovery and the government’s so-called dual circulation policy that will see it lessen dependence on foreign markets, according to PwC’s David Brown.

Crypto frenzy born anew? BTC prices leapt to a two-week high to breach the USD 54k mark yesterday, climbing back from a drop in late February. Other cryptocurrencies like Ether — which also reached its highest point in two weeks — show that interest from institutional investors for crypto “still seems strong,” analysts tell Bloomberg.

EGX30

11,337

-1.1% (YTD: +4.5%)

USD (CBE)

Buy 15.68

Sell 15.78

USD at CIB

Buy 15.68

Sell 15.78

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

9,473

+1.1% (YTD: +9.0%)

ADX

5,583

-1.8% (YTD: +10.7%)

DFM

2,539

-0.1% (YTD: +1.9%)

S&P 500

3,875

+1.4% (YTD: +3.2%)

FTSE 100

6,730

+0.2% (YTD: +4.2%)

Brent crude

USD 67.46

-0.1%

Natural gas (Nymex)

USD 2.65

-0.5%

Gold

USD 1,709.50

-0.4%

BTC

USD 54,150.21

+1.1%

The EGX30 fell 1,1% yesterday on turnover of EGP 1.2 bn (18.7% below the 90-day average). Regional investors were net buyers. The index is up 4.5% YTD.

In the green: MM Group (+3.0%), EDBE (+1.7%) and Heliopolis Housing (+1.6%).

In the red: Abu Qir Fertilizers (-5.1%), Ezz Steel (-2.9%) and Cleopatra (-2.8%).

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