Wall Street ends February in the red: US stocks resumed their decline yesterday, capping a nervy month for stock traders concerned about rising borrowing costs. The Dow Jones shed more than 200 points yesterday to end 0.7% in the red while the S&P 500 lost 0.3%, leaving it down 2.6% during the month. Shares on Wall Street suffered their biggest weekly fall in two months last week as a string of positive economic data raised fears that the Federal Reserve will have to raise interest rates higher than previously thought in order to bring inflation down to target. (Reuters | Bloomberg | Financial Times | CNBC)

Asian markets are up across the board on news that Chinese factory activity hit its highest level since 2012, according to CNBC. Futures suggest a mixed open for shares in Europe and North America later today.

EGX30

17,002

-0.6% (YTD: +16.5%)

USD (CBE)

Buy 30.58

Sell 30.68

USD at CIB

Buy 30.58

Sell 30.68

Interest rates CBE

16.25% deposit

17.25% lending

Tadawul

10,103

+1.1% (YTD: -3.6%)

ADX

9,845

+0.1% (YTD: -3.6%)

DFM

3,438

+0.6% (YTD: +3.1%)

S&P 500

3,970

-0.3% (YTD: +3.4%)

FTSE 100

7,876

-0.7% (YTD: +5.7%)

Euro Stoxx 50

4,238

-0.2% (YTD: +11.7%)

Brent crude

USD 83.89

+1.8%

Natural gas (Nymex)

USD 2.78

+1.7%

Gold

USD 1,834.60

+0.5%

BTC

USD 23,146

-1.0% (YTD: +40.2%)

THE CLOSING BELL-

The EGX30 fell 0.6% at yesterday’s close on turnover of EGP 2.21 bn (10.8% above the 90-day average). Foreign investors were net sellers. The index is up 16.5% YTD.

In the green: Ezz Steel (+3.8%), Qalaa Holdings (+3.3%) and Elsewedy Electric (+2.7%).

In the red: Mopco (-6.2%), Rameda Pharma (-3.6%) and Oriental Weavers (-3.3%).

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