Global M&A has fallen to its lowest level since 2020 as soaring inflation, the conflict in Ukraine and tighter regulations put the brakes on a surge of dealmaking activity, the Financial Times reports. A little over USD 1 tn worth of transactions were agreed in 1Q 2022, down 23% from the same period in 2021, according to Refinitiv data, which shows that every region in the world saw a decline in activity. The biggest acquisition of the quarter was Microsoft’s USD 75 bn takeover of games publisher Activision.

Private equity is the outlier: Flushed with cash, private equity firms spent a record USD 288 bn during the quarter, up 17% from last year, the data shows.

EGX30

11,238

0.0% (YTD: -6.0%)

USD (CBE)

Buy 18.22

Sell 18.32

USD at CIB

Buy 18.20

Sell 18.30

Interest rates CBE

9.25% deposit

10.25% lending

Tadawul

13,090

+0.4% (YTD: +16.0%)

ADX

9,929

-0.2% (YTD: +17.0%)

DFM

3,537

+0.3% (YTD: +10.7%)

S&P 500

4,546

+0.3% (YTD: -4.6%)

FTSE 100

7,538

+0.3% (YTD: +2.1%)

Euro Stoxx 50

3,919

+0.4% (YTD: -8.8%)

Brent crude

USD 104.39

-0.3%

Natural gas (Nymex)

USD 5.72

+1.4%

Gold

USD 1,923.70

-1.6%

BTC

USD 46,252

-0.2% (as of midnight)

THE CLOSING BELL-

The EGX30 fell 0.01% at Thursday’s close on turnover of EGP 1.22 bn (20.4% above the 90-day average). Local investors were net Sellers. The index is down 6% YTD.

In the green: Orascom Construction (+5.0%), Qalaa Holding (+4.9%) and GB Auto (+3.6%).

In the red: EKH (-4.4%), AMOC (-4.4%) and Medinet Nasr Housing (-2.7%).

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