Investors pulled bns of USD from the world’s biggest crypto exchange last week: Binance, the world’s largest crypto trading platform suffered USD 6 bn of outflows in the first of last week as investor confidence in crypto assets hit new lows following the arrest of disgraced FTX founder Sam Bankman-Fried, the Financial Times reports. Not helping matters: An accounting firm hired by Binance to conduct a “proof of reserves” report and assuage concerns about its capitalization stopped working the company.

Up EGX30 15,142 -1.5% (YTD: +26.7%)
Up USD (CBE) Buy 24.64 Sell 24.74
None USD at CIB Buy 24.65 Sell 24.72
None Interest rates CBE 13.25% deposit 14.25% lending
Up Tadawul 10,290 +0.4% (YTD: -8.8%)
Up ADX 10,328 +1.6% (YTD: +21.7%)
Up DFM 3,329 +0.4% (YTD: +4.2%)
Down S&P 500 3,852 -1.1% (YTD: -19.2%)
Down FTSE 100 7,332 -1.3% (YTD: -0.7%)
Down Euro Stoxx 50 3,804 -0.8% (YTD: -11.5%)
Down Brent crude USD 79.04 -2.7%
Down Natural gas (Nymex) USD 6.60 -5.3%
Up Gold USD 1,800.20 +0.7%
Down BTC USD 16,711 -0.8% (YTD: -63.8%)

THE CLOSING BELL-

The EGX30 fell 1.5% at Thursday’s close on turnover of EGP 3.57 bn (143% above the 90-day average). Foreign investors were net sellers. The index is up 26.7% YTD.

In the green: Juhayna (+10.2%), Eastern Company (+5.6%) and Cleopatra Hospitals (+3.9%).

In the red: Egypt Kuwait Holding-EGP (-5.5%), Ezz Steel (-4.7%) and Sidi Kerir Petrochemicals (-4.0%).

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