IPO proceeds at the New York Stock Exchange fell 93% this year as public offerings dwindle due to inflationary headwinds and rising interest rates, NYSE President Lynn Martin said at a Reuters conference. Fresh listings on the world’s biggest exchange hit an all-time high in 2021 but have suffered a sharp reversal this year due to market volatility. “Our pipeline is tremendous — the reason companies aren't coming to market is because [of] all the volatility in the market,” Martin said.

EGX30

13,640

+2.9% (YTD: +14.2%)

USD (CBE)

Buy 24.54

Sell 24.61

USD at CIB

Buy 24.55

Sell 24.61

Interest rates CBE

13.25% deposit

14.25% lending

Tadawul

10,823

-0.7% (YTD: -4.1%)

ADX

10,545

+1.7% (YTD: +24.3%)

DFM

3,324

+0.6% (YTD: +4.0%)

S&P 500

4,072

-0.1% (YTD: -14.6%)

FTSE 100

7,556

0.0% (YTD: +2.3%)

Euro Stoxx 50

3,978

-0.2% (YTD: -7.5%)

Brent crude

USD 85.57

-1.5%

Natural gas (Nymex)

USD 6.28

-6.8%

Gold

USD 1,809.60

-0.3%

BTC

USD 16,949

-0.4% (YTD: -63.4%)

THE CLOSING BELL-

The EGX30 rose 2.9% at Thursday’s close on turnover of EGP 2.74 bn. Local investors were net buyers. The index is up 14.2% YTD.

In the green: EKH - EGP (+10.1%), AMOC (+9.7%) and Ezz Steel (+6.6%).

In the red: Cleopatra Hospitals (-3.3%), Ibnsina Pharma (-0.6%) and Talaat Moustafa Group (-0.5%).

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