Aramco closes USD multi-bn sale of minority stake in natgas pipelines: An investor group led by BlackRock has acquired a 49% stake in Saudi Aramco’s natgas pipelines subsidiary for USD 15.5 bn, as the two firms enter into a pact to explore low carbon energy projects. (Bloomberg)

FAB plans sukuk sale: First Abu Dhabi Bank is on track to take a USD 500 mn Islamic bond issuance to market, Reuters reports.

Saudi IPO watch: Saudi mining firm Al Masane Al Kobra Mining Company wants to raise up to SAR 1.25 bn (USD 332 mn) when it sells a 30% stake in an IPO in Riyadh in the coming days, according to a disclosure to the Saudi exchange yesterday. The indicative price range per share was set at SAR 58-63 ahead of book-building, which started yesterday.

Fintech firm OPay wants to tap more markets in MENA: After launching in Egypt this year, Nigerian fintech player OPay is looking to enter the UAE by the end of 2022, it said in a statement (pdf) yesterday.

EGX30

11,302

-0.0% (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

12,528

-0.3% (YTD: +11.0%)

ADX

9,100

-0.0% (YTD: +7.2%)

DFM

3,336

+0.8% (YTD: +4.4%)

S&P 500

4,226

-1.8% (YTD: -11.3%)

FTSE 100

7,498

+0.1% (YTD: +1.5%)

Brent crude

USD 96.84

0.0%

Natural gas (Nymex)

USD 4.65

+0.6%

Gold

USD 1,913

+0.1%

BTC

USD 37,244

-1.7% (as of midnight)

THE CLOSING BELL-

The EGX30 fell less than 0.1% at yesterday’s close on turnover of EGP 613 mn (39.7% below the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.

In the green: GB Auto (+5.4%), Oriental Weavers (+3.2%) and Fawry (+1.8%).

In the red: CIRA (-1.7%), Heliopolis Housing (-1.6%) and Orascom Construction (-1.3%).

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