Social audio app Clubhouse locked down an unspecified investment in a series C funding round, bringing the company’s value to USD 4 bn, Reuters reports, citing a source with knowledge of the matter. The funding round was led by Silicon Valley-based VC firm Andreessen Horowitz General Partner Andrew Chen, along with other “major investors.” Twitter had reportedly been mulling acquiring Clubhouse earlier this month before calling off the talks.

EGX30

10,358

+2.1% (YTD: -4.5%)

USD (CBE)

Buy 15.63

Sell 15.73

USD at CIB

Buy 15.63

Sell 15.73

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

10,049

+0.6% (YTD: +15.6%)

ADX

6,124

-0.1% (YTD: +21.4%)

DFM

2,636

+0.1% (YTD: +5.8%)

S&P 500

4,186

+0.4% (YTD: +11.4%)

FTSE 100

7,020

+0.5% (YTD: +8.7%)

Brent crude

USD 66.27

-0.8%

Natural gas (Nymex)

USD 2.72

+1.5%

Gold

USD 1,775.20

-0.3%

BTC

USD 57,006.54

-4.72%

The EGX30 rose 2.1% yesterday on crazily anemic turnover of EGP 460 mn (65.9% below the 90-day average). Local investors were net sellers. The index is down 4.5% YTD. The extent to which we now lag our regional peers (Tadawul, ADX, DFM, above) in YTD performance is shocking.

In the green: GB Auto (+6.5%), CIB (+3.4%) and MM Group (+3.3%).

In the red: CI Capital (-1.8%) and Export Development Bank (-0.3%).

Asian markets opened strongly in the green this morning, but futures point to a mixed open on Wall Street this afternoon, with the Down and S&P set to open in the red while the tech-heavy Nasdaq is in the green. Shares in Toronto and major European indexes are all set to open in the green.

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