Brookfield eyes FAB’s payment business: Canadian asset management giant Brookfield is reportedly in talks to acquire Magnati, First Abu Dhabi Bank’s (FAB) payment arm, in a transaction that could value it at more than USD 1 bn, Bloomberg reported yesterday, citing unidentified sources. The EFG Hermes-suitor could receive more bids from other potential buyers for the subsidiary, the people said.

Israel’s Delek Drilling rebrands, looks to Morocco exploration: Israeli energy company Delek Drilling has rebranded to NewMed Energy, ahead of expansion plans that could see it launch natural gas exploration in Morocco, according to a press release. Alongside Chevron, the company operates Israel’s two biggest offshore reservoirs, the Tamar and Leviathan gas fields, from which natgas is pumped our way for liquefaction and re-export to Europe.

Kipco restructures OSN ahead of potential sale: Kuwait-based Kipco, the majority shareholder of OSN, is working to restructure and develop the TV network ahead of a potential sale, a company source told Sky News Arabia.

EGX30

11,302

-1.7% (YTD: -5.4%)

USD (CBE)

Buy 15.66

Sell 15.76

USD at CIB

Buy 15.66

Sell 15.76

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

12,562

+0.8% (YTD: +11.3%)

ADX

9,103

+0.7% (YTD: +7.2%)

DFM

3,309

-0.1% (YTD: +3.6%)

S&P 500

4,305

-1.0% (YTD: -9.7%)

FTSE 100

7,494

+0.1% (YTD: +1.5%)

Brent crude

USD 96.84

+1.5%

Natural gas (Nymex)

USD 4.51

+0.3%

Gold

USD 1,900

-0.4%

BTC

USD 37,890

+2.8% (as of midnight)

THE CLOSING BELL-

The EGX30 fell 1.7% at yesterday’s close on turnover of EGP 837 mn (18% below the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.

In the green: Eastern Company (+1.4%), Qalaa Holdings (+0.9%) and EFG Hermes (+0.5%).

In the red: Cleopatra Hospital (-4.4%), Ibnsina Pharma (-4.2%) and CIRA (-4.2%).

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