Saudi NFAs fall to 13-year low despite Aramco dividend boost: Saudi Arabia’s net foreign assets dropped to USD 419 bn in March from USD 433 bn the month before, according to central bank figures out yesterday. This is the lowest figure since July 2010, according to Bloomberg. The lower figure comes despite Saudi Aramco in March increasing dividend payouts, a key revenue source for the government.

Adnoc Gas signs 3-year LNG supply agreement with TotalEnergies: Adnoc Gas announced a three-year agreement with TotalEnergies for the supply of liquified natural gas (LNG), according to a press release (pdf). The estimated value of the agreement falls between USD 1 bn and USD 1.2 bn based on current market conditions, and it will run through to 2025.

Remember:Adnoc Distribution acquired a 50% stake in the French company’s Egypt subsidiary earlier this year.

EGX30

17,311

-2.0% (YTD: +18.6%)

USD (CBE)

Buy 30.84

Sell 30.96

USD at CIB

Buy 30.85

Sell 30.95

Interest rates CBE

18.25% deposit

19.25% lending

Tadawul

11,286

-0.2% (YTD: +7.7%)

ADX

9,704

-0.9% (YTD: -5.0%)

DFM

3,538

-0.2% (YTD: +6.1%)

S&P 500

4,168

0.0% (YTD: +8.6%)

FTSE 100

7,871

+0.5% (YTD: +5.6%)

Euro Stoxx 50

4,359

0.0% (YTD: +14.9%)

Brent crude

USD 79.37

-1.2%

Natural gas (Nymex)

USD 2.32

-3.9%

Gold

USD 1,990.30

-0.4%

BTC

USD 27,894

-5.7% (YTD: +68.5%)

THE CLOSING BELL-

The EGX30 fell 2.0% at yesterday’s close on turnover of EGP 2.09 bn (about 15% above thet railing 90-day average). Foreign investors were net sellers. The index is up 18.6% YTD.

In the green: Eastern Company (+1.5%), Ezz Steel (+0.7%) and Abu Dhabi Islamic Bank – Egypt (+0.4%).

In the red: AMOC (-10.7%), Abu Kir Fertilizers (-4.7%) and Qalaa Holdings (-4.5%).

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