{"id":554174,"date":"2021-12-22T03:57:27","date_gmt":"2021-12-22T03:57:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/share-buybacks-soar-but-capex-spending-is-still-lagging-in-the-us-of-a\/"},"modified":"2021-12-22T03:57:27","modified_gmt":"2021-12-22T03:57:27","slug":"share-buybacks-soar-but-capex-spending-is-still-lagging-in-the-us-of-a","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/share-buybacks-soar-but-capex-spending-is-still-lagging-in-the-us-of-a\/","title":{"rendered":"Share buybacks soar but capex spending is still lagging in the US of A"},"content":{"rendered":"

<\/a> What\u2019s hot in the US? Share buybacks. What\u2019s not? Capex spending:<\/strong> 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<\/a> reports. The uncertainty is also putting a damper on capex spending, which failed to recover to pre-covid levels during the quarter despite low borrowing costs, \u201cas a shift in consumer demand has fueled lots of uncertainty for businesses and makes it difficult for companies to plan ahead,\u201d one analyst says. Capex borrowing will become more expensive as the US Federal Reserve begins raising interest rates next year, while the taper of the Fed\u2019s asset purchase program will make it all the more important for \u201crobust\u201d investments to underpin a long-term recovery.<\/p>\n

ALSO- <\/strong>European gas prices are continuing to spiral:<\/strong> Gas and electricity prices have hit new record highs in Europe, threatening the continent\u2019s economic recovery and putting industries on the brink of shutdown, as Russia restricted gas flows to Europe compounding shortages already aggravated by nuclear outages in France. (Bloomberg<\/a>)<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

11,525<\/p>\n<\/td>\n

\n

+0.4% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,261<\/p>\n<\/td>\n

\n

+0.8% (YTD: +29.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

8,459<\/p>\n<\/td>\n

\n

-1.2% (YTD: +67.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,153<\/p>\n<\/td>\n

\n

-0.1% (YTD: +26.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,649<\/p>\n<\/td>\n

\n

+1.8% (YTD: +23.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,297<\/p>\n<\/td>\n

\n

+1.4% (YTD: +13.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 71.21<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 3.86<\/p>\n<\/td>\n

\n

-0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,790.80<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 48,745.60<\/p>\n<\/td>\n

\n

-0.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 1.18 bn (12.9% below the 90-day average). Foreign investors were net sellers. The index is up 6.3% YTD.<\/p>\n

In the green: <\/strong>Rameda (+6.5%), Speed Medical (+3.7%) and Orascom Development Egypt (+3.1%).<\/p>\n

In the red: <\/strong>Raya Holding (-2.1%), Elsewedy Electric (-1.4%) and Mopco (-1.1%).<\/p>\n

Major Asian benchmarks are largely flat at dispatch time this morning. <\/strong>Shares in Shanghai are just barely in the red, while the Kospi, Nikkei and Hang Seng are weakly in the green. Futures suggest all major European benchmarks are going to open in the green, while shares on Wall Street will face gentle selling pressure at the opening bell.<\/p>\n","protected":false},"excerpt":{"rendered":"

What\u2019s hot in the US? 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 reports. The uncertainty is also […]<\/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":[93,72,297,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554174","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-energy","tag-enterpriseam","tag-europe","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"2bace1ef-20a2-4fcc-bc7f-c7c69f56409e","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[554150],"teaser":"","voice_url":""},"yoast_head":"\nShare buybacks soar but capex spending is still lagging in the US of A - 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\/2021\/12\/22\/share-buybacks-soar-but-capex-spending-is-still-lagging-in-the-us-of-a\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Share buybacks soar but capex spending is still lagging in the US of A\" \/>\n<meta property=\"og:description\" content=\"What\u2019s hot in the US? 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Wary of repeating the early-2010s scenario, when\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","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\/10\/494.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/businesses-eager-for-interest-rates-to-return-to-pre-float-levels-to-boost-investment\/","url_meta":{"origin":554174,"position":1},"title":"Businesses eager for interest rates to return to pre-float levels to boost investment","author":"enterpriseam admin","date":"13 June 2019","format":false,"excerpt":"EXCLUSIVE- The Enterprise business interest rate survey: How far will interest rates have to fall before big business starts borrowing to finance capex? Inflation rose unexpectedly in May, and turmoil in global markets makes it imperative Egypt remain attractive to the carry trade. Together, those factors mean sky-high interest rates\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1967.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543852,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/big-firms-splash-pandemic-stash-on-buybacks\/","url_meta":{"origin":554174,"position":2},"title":"Big firms splash pandemic stash on buybacks","author":"enterpriseam admin","date":"21 February 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In "PLANET FINANCE"","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":598252,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/when-will-we-see-capex-spending-pick-up\/","url_meta":{"origin":554174,"position":3},"title":"When will we see capex spending pick up?","author":"enterpriseam admin","date":"20 May 2019","format":false,"excerpt":"EXCLUSIVE- With interest rates likely to be left on hold this week, don\u2019t expect a pickup in capex spending this year. The central bank\u2019s 100 bps cut in February was a step in the right direction, but was nowhere near enough to spur capex spending by a business community stuck\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/3\/395.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555495,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/16\/cira-to-borrow-egp-375-mn-for-capex-spending-egylease-closes-securitized-bond-issuance\/","url_meta":{"origin":554174,"position":4},"title":"CIRA to borrow EGP 375 mn for capex spending + EgyLease closes securitized bond issuance","author":"enterpriseam admin","date":"16 November 2021","format":false,"excerpt":"EGX-listed education outfit CIRA is borrowing EGP 375 mn from Ahli United Bank to finance fresh investments, the company said in a regulatory filing (pdf) yesterday. The company\u2019s board greenlit the decision earlier this week, the disclosure says. No further details or information were provided in the disclosure and a\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":554174,"position":5},"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 "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554174","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=554174"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554174\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/554150"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=554174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=554174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=554174"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=554174"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=554174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}