{"id":543852,"date":"2022-02-21T04:23:57","date_gmt":"2022-02-21T04:23:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/big-firms-splash-pandemic-stash-on-buybacks\/"},"modified":"2022-02-21T04:23:57","modified_gmt":"2022-02-21T04:23:57","slug":"big-firms-splash-pandemic-stash-on-buybacks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/big-firms-splash-pandemic-stash-on-buybacks\/","title":{"rendered":"Big firms splash pandemic stash on buybacks"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>US companies have been leveraging high cash balances accrued during the <\/strong><strong>pandemic to increase share buybacks<\/strong>, in a trend that looks set to continue throughout 2022, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-19\/surging-u-s-share-buybacks-offer-support-to-sputtering-market?srnd=premium-middle-east&sref=mmeFTDW1\">data compiled by Bloomberg<\/a> shows. Total 2021 share buybacks could exceed USD 870 bn when the data is complete, topping 2018\u2019s record USD 806 bn. Companies are using buybacks to support investor confidence through recent market volatility, driven in part by the prospect of rising interest rates and geopolitical tensions,<\/p>\n<p><strong>Big Oil is also following the trend<\/strong>, with the world\u2019s seven largest oil companies set to return an estimated USD 38-41 bn to shareholders through buybacks this year, the <a href=\"https:\/\/www.ft.com\/content\/2852b800-4a03-4cf6-a47f-65c306a22657\">Financial Times<\/a> reports. These levels haven\u2019t been seen since 2008, when share buybacks from oil giants exceeded USD 46 bn, driven by Exxon\u2019s huge share repurchasing scheme. Oil and gas firms are seizing the chance for cheap buybacks following sector-wide underperformance during the pandemic, with most management teams feeling their shares have been undervalued, one analyst said.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,371<\/p>\n<\/td>\n<td>\n<p>-1.4% (YTD: -4.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,463<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +10.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,155<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,327<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,349<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,514<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 93.54<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.43<\/p>\n<\/td>\n<td>\n<p>-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,900<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,346<\/p>\n<\/td>\n<td>\n<p>-3.9% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 fell 1.4% at yesterday\u2019s close<\/strong> on turnover of EGP 501 mn (51.4% below the 90-day average). Foreign investors were net sellers. The index is down 4.8% YTD.<\/p>\n<p><strong>In the red: <\/strong>Heliopolis Housing (-5.2%), Palm Hills Development (-5.1%) and Qalaa Holdings (-4.4%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US companies have been leveraging high cash balances accrued during the pandemic to increase share buybacks, in a trend that looks set to continue throughout 2022, data compiled by Bloomberg shows. Total 2021 share buybacks could exceed USD 870 bn when the data is complete, topping 2018\u2019s record USD 806 bn. Companies are using buybacks [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[780,93,72,778,119,91,122,594,1010,1009],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543852","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-chevron","tag-energy","tag-enterpriseam","tag-exxonmobil","tag-financial-markets","tag-oil-and-gas","tag-planet-finance","tag-shell","tag-twitter","tag-walmart","wpautop","entry"],"acf":{"mongo_id":"1db8956f-aabe-4471-8ac3-571f10c6a8a2","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[543829],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Big firms splash pandemic stash on buybacks - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/big-firms-splash-pandemic-stash-on-buybacks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big firms splash pandemic stash on buybacks\" \/>\n<meta property=\"og:description\" content=\"US companies have been leveraging high cash balances accrued during the pandemic to increase share buybacks, in a trend that looks set to continue throughout 2022, data compiled by Bloomberg shows. Total 2021 share buybacks could exceed USD 870 bn when the data is complete, topping 2018\u2019s record USD 806 bn. 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Share buybacks. What\u2019s not? Capex spending: Share buybacks in S&P 500 companies more than doubled y-o-y to reach a record USD 234.6 bn in 3Q2021, with an uncertain outlook leading corporates to help secure returns for their shareholders by buying back their own stock, Bloomberg\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559581,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/26\/what-the-markets-are-doing-on-26-january-2021\/","url_meta":{"origin":543852,"position":1},"title":"What the markets are doing on 26 January 2021","author":"enterpriseam admin","date":"26 January 2021","format":false,"excerpt":"The pandemic gave the world\u2019s top hedge funds their best year in a decade: The all-time top 20 hedge fund managers made USD 63.5 bn from the covid-induced market crash last year, accounting for more than half of the industry\u2019s gains last year, according to LCH Investments data cited by\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554514,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/the-supply-chain-crisis-is-a-roadblock-in-santas-way-deepfake-tech-blurs-the-line-between-reality-and-fantasy\/","url_meta":{"origin":543852,"position":2},"title":"The supply chain crisis is a roadblock in Santa\u2019s way + Deepfake tech blurs the line between reality and fantasy","author":"enterpriseam admin","date":"13 December 2021","format":false,"excerpt":"US stock buybacks hit a new quarterly record in 3Q2021 in a huge reversal from 2020 which saw repurchases plunge as the effects of the pandemic gripped the financial markets. S&P 500-listed companies repurchased USD 234.5 bn worth of shares during the July-September period, surpassing the previous USD 223 bn\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/634.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572808,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/09\/the-coronavirus-is-fuelling-a-stock-buyback-boom-in-egypt\/","url_meta":{"origin":543852,"position":3},"title":"The coronavirus is fuelling a stock buyback boom in Egypt","author":"enterpriseam admin","date":"9 July 2020","format":false,"excerpt":"The coronavirus is fuelling a stock buyback boom in Egypt: Since March, EGX-listed companies have been buying back their own shares amid turmoil in global financial markets prompted by the pandemic. As the benchmark EGX30 index fell to three-and-a-half-year lows, experiencing single-day routs unlike anything seen since the political turbulence\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/55.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561020,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/22\/what-the-markets-are-doing-on-22-march-2021\/","url_meta":{"origin":543852,"position":4},"title":"What the markets are doing on 22 March 2021","author":"enterpriseam admin","date":"22 March 2021","format":false,"excerpt":"The Biden administration's USD 1.9 tn stimulus plan could propel the global economy back to pre-covid levels \u201cif US domestic sensitivities over trade can be contained,\u201d analysts tell the Financial Times. The White House is likely to come under pressure to place new curbs on imports, as his stimulus bill\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575757,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/26\/raya-contact-center-submits-offer-to-purchase-gulf-based-call-center-company\/","url_meta":{"origin":543852,"position":5},"title":"Raya Contact Center submits offer to purchase Gulf-based call center company","author":"enterpriseam admin","date":"26 October 2020","format":false,"excerpt":"M&A WATCH- Raya Contact Center has submitted a non-binding offer to purchase an unnamed call center company based in the Gulf, the company said in an EGX filing (pdf) yesterday. The company is currently conducting due diligence but didn\u2019t provide any additional information. Separately, Raya\u2019s board of directors will start\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543852"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543852\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543829"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543852"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543852"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}