{"id":559299,"date":"2021-01-17T03:52:01","date_gmt":"2021-01-17T03:52:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/"},"modified":"2021-01-17T03:52:01","modified_gmt":"2021-01-17T03:52:01","slug":"what-the-markets-are-doing-on-17-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/","title":{"rendered":"What the markets are doing on 17 January 2021"},"content":{"rendered":"

<\/a> GLOBAL M&A WATCH- Fiat Chrysler and Peugeot complete mega-merger:<\/strong> Fiat Chrysler and Peugeot\u2019s PSA Group are now Stellantis, a USD 51 bn+ company with a huge brand portfolio that ranges from from Jeep, Ram, Peugeot, and Opel to Maserati and Alfa Romeo in the luxury segment, according to the Wall Street Journal<\/a>. The multi-bn USD merger<\/a> has created the world\u2019s third-largest auto company, which executives think will eventually save them USD 6 bn a year.<\/p>\n

Couche-Tard\u2019s Carrefour bid blocked: <\/strong>Canadian convenience store brand Couche-Tard has scrapped a EUR 16.2 bn offer to acquire global grocer Carrefour after the French government raised objections, Reuters<\/a> reported, citing two sources with knowledge of the talks. The French government opposed the sale on food security concerns.<\/p>\n

Saudi Arabia\u2019s sovereign wealth fund will spend at least USD 40 bn annually in the <\/strong>country over the next five years<\/strong> to finance mega-projects such as the futuristic, zero-carbon city Neom, reports the Financial Times<\/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

11,453<\/p>\n<\/td>\n

\n

+0.6% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.62<\/p>\n<\/td>\n

\n

Sell 15.72<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.62<\/p>\n<\/td>\n

\n

Sell 15.72<\/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

T<\/strong>a<\/strong>dawul<\/strong><\/p>\n<\/td>\n

\n

8,898<\/p>\n<\/td>\n

\n

-0.2% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

5,266<\/p>\n<\/td>\n

\n

-0.5% (YTD: +4.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,702<\/p>\n<\/td>\n

\n

-0.7% (YTD: +8.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

3,768<\/p>\n<\/td>\n

\n

-0.7% (YTD: +0.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

6,735<\/p>\n<\/td>\n

\n

-1.0% (YTD: +4.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 55.10<\/p>\n<\/td>\n

\n

-2.3%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 2.74<\/p>\n<\/td>\n

\n

+2.7%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,829<\/p>\n<\/td>\n

\n

-1.2%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 36,572<\/p>\n<\/td>\n

\n

+3.1%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 rose 0.6% on Thursday<\/strong> on turnover of EGP 1.6 bn (16.6% above the 90-day average). Local investors were net sellers. The index is up 5.6% YTD.<\/p>\n

In the green: <\/strong>Eastern Company (+3.9%), Dice (+3.3%) and Edita (+3.1%).<\/p>\n

In the red: <\/strong>Egyptian Iron & Steel (-9.8%), Qalaa Holdings (-1.5%) and Sodic (-1.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"

GLOBAL M&A WATCH- Fiat Chrysler and Peugeot complete mega-merger: Fiat Chrysler and Peugeot\u2019s PSA Group are now Stellantis, a USD 51 bn+ company with a huge brand portfolio that ranges from from Jeep, Ram, Peugeot, and Opel to Maserati and Alfa Romeo in the luxury segment, according to the Wall Street Journal. The multi-bn USD […]<\/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":[144,8934,1919,3657,3655,72,725,119,7128,1407,1566,122,3656,338,219,1888],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559299","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-automotive","tag-carrefour","tag-christine-lagarde","tag-couche-tard","tag-economic-rebound","tag-enterpriseam","tag-european-central-bank","tag-financial-markets","tag-ma-watch","tag-neom","tag-peugeot","tag-planet-finance","tag-psa-group","tag-retail","tag-saudi-arabia","tag-stellantis","wpautop","entry"],"acf":{"mongo_id":"4eef2386-cef1-4663-a07c-1b39ec3dbdf4","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559275],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 17 January 2021 - 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\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the markets are doing on 17 January 2021\" \/>\n<meta property=\"og:description\" content=\"GLOBAL M&A WATCH- Fiat Chrysler and Peugeot complete mega-merger: Fiat Chrysler and Peugeot\u2019s PSA Group are now Stellantis, a USD 51 bn+ company with a huge brand portfolio that ranges from from Jeep, Ram, Peugeot, and Opel to Maserati and Alfa Romeo in the luxury segment, according to the Wall Street Journal. 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This compares to the almost USD 68 bn invested in such funds across the whole of 2020.\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":546486,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/stellantis-could-be-looking-to-produce-evs-in-egypt\/","url_meta":{"origin":559299,"position":1},"title":"Stellantis could be looking to produce EVs in Egypt","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Automobile manufacturer Stellantis is interested in assembling electric vehicles in Egypt, cabinet said in a statement yesterday following talks between Prime Minister Moustafa Madbouly and company officials. The automaker is reportedly interested in taking advantage of the government\u2019s incentives for the auto sector, and is considering establishing a factory to\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559032,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/05\/what-the-markets-are-doing-on-5-january-2021\/","url_meta":{"origin":559299,"position":2},"title":"What the markets are doing on 5 January 2021","author":"enterpriseam admin","date":"5 January 2021","format":false,"excerpt":"A global green bond boom may be coming in 2021: Governments and companies could issue up to USD 500 bn in green bonds this year \u2014 nearly half the total raised by the climate-friendly securities since their inception \u2014 as policymakers prioritize a green-led recovery from the pandemic, Swedish bank\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":630019,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/mansour-group-scope-groupe-psa-officially-launch-peugeot-distribution-in-egypt\/","url_meta":{"origin":559299,"position":3},"title":"Mansour Group, Scope, Groupe PSA officially launch Peugeot distribution in Egypt","author":"enterpriseam admin","date":"10 April 2018","format":false,"excerpt":"Mansour Group, Scope, Groupe PSA officially launch their Peugeot distribution operation in Egypt: Mansour Group, Dubai-based Scope Investment, and French car manufacturer Groupe PSA have officially launched their new partnership to distribute Peugeot cars in Egypt by releasing two new models, Mansour Group CEO Adel Khedr told Al Mal on\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649715,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/psa-group-finalizes-agreement-to-buy-gms-european-brands-including-opel-vauxhall\/","url_meta":{"origin":559299,"position":4},"title":"PSA Group finalizes agreement to buy GM\u2019s European brands including Opel\/Vauxhall","author":"enterpriseam admin","date":"7 March 2017","format":false,"excerpt":"Peugeot-Citroen has reached an agreement with General Motors to buy its European unit, including the Vauxhall and Opel operations, BBC news reports. PSA Group, the owner of Peugeot-Citroen, would, after the agreement, become Europe's second largest carmaker, behind Volkswagen but overtaking Renault-Nissan. The transaction is valued at EUR 2.2 bn,\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577894,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/stellantis-wants-to-build-50k-cars-a-year-here\/","url_meta":{"origin":559299,"position":5},"title":"Stellantis wants to build 50k cars a year here","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"Automobile manufacturer Stellantis Egypt wants to locally produce 50k cars a year, Managing Director Hesham Hosny said at an industry conference this week (watch, runtime: 44:33). \u201cWe plan to have the Middle East and Africa produce 70% of its own automotive needs,\u201d he said. Stellantis is one of the largest\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/157.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\/559299","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=559299"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559299\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559275"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559299"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559299"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}