{"id":559377,"date":"2021-01-19T03:43:52","date_gmt":"2021-01-19T03:43:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/19\/what-the-markets-are-doing-on-19-january-2021\/"},"modified":"2021-01-19T03:43:52","modified_gmt":"2021-01-19T03:43:52","slug":"what-the-markets-are-doing-on-19-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/19\/what-the-markets-are-doing-on-19-january-2021\/","title":{"rendered":"What the markets are doing on 19 January 2021"},"content":{"rendered":"

<\/a> China smashed 2020: <\/strong>China\u2019s economy is growing at a faster rate than before covid, expanding 6.5% and marking the highest y-o-y growth of any quarter since 2018. China was the only major world economy to grow last year, recording a GDP increase of 2.3% in 2020 despite a historic 6.8% contraction in the early months of the year as a result of an extensive lockdown to combat the initial spread of the virus. The Financial Times<\/a> and the Wall Street Journal<\/a> have the story.<\/p>\n

One place that definitely didn\u2019t is Europe \u2014 and it\u2019s already having a bad 2021: <\/strong>Lockdowns across Europe have the continent heading for a double-dip recession, according to data which points to slowdowns in consumer spending, travel and workplace activity in the first weeks of the year, the FT<\/a> says. Oxford Economics and Nomura estimate that the eurozone has already contracted between 1.8-2.3% in 4Q2020, and economists are expecting another fall this quarter, including in major economies Germany and Italy. A recession is defined as two consecutive quarters of negative growth.<\/p>\n

Add fossil fuel-focused equity funds to the \u201c2020 was a bad year\u201d club:<\/strong> Ranking as the year\u2019s worst performers after a sharp drop in demand due to lockdowns and global oil prices floundering, energy funds run by BlackRock, Goldman Sachs, and Brookfield each lost at least 30%, the FT<\/a> reports. UK stocks also performed badly, being dominated by hard hit sectors such as oil and travel, while investments in technology and green energy gained ground.<\/p>\n

Dubai\u2019s property slump looks set to continue this year and the next:<\/strong> Property broker JL is predicting prices to fall by another 5-8% this year, having fallen 30% over the past seven years, Bloomberg<\/a> reports.<\/p>\n

Samsung is without its crown prince:<\/strong> Samsung\u2019s Chairman-elect Lee Jae-yong is heading back to prison to serve a 30-month sentence following a rerun of a 2017 trial<\/a> which found him guilty of a number of corruption charges in a scandal that caused the downfall of South Korean president Park Geun-hye. The sentence leaves the electronics giant without a leader for at least a year, and only if Jae-yong is granted early parole, Bloomberg<\/a> says.<\/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

11,450<\/p>\n<\/td>\n

\n

flat (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 15.64<\/p>\n<\/td>\n

\n

Sell 15.74<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.65<\/p>\n<\/td>\n

\n

Sell 15.75<\/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

8,931<\/p>\n<\/td>\n

\n

+0.6% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

5,489<\/p>\n<\/td>\n

\n

+4.0% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,726<\/p>\n<\/td>\n

\n

+1.2% (YTD: +9.4%)<\/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

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

\n

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

FT<\/strong>S<\/strong>E 100<\/strong><\/p>\n<\/td>\n

\n

6,720<\/p>\n<\/td>\n

\n

-0.2% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 54.75<\/p>\n<\/td>\n

\n

-0.6%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 2.64<\/p>\n<\/td>\n

\n

-3.7%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,836<\/p>\n<\/td>\n

\n

+0.4%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 36,705<\/p>\n<\/td>\n

\n

+0.8%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 was flat yesterday<\/strong> on turnover of EGP 1.5 bn (10.5% above the 90-day average). Foreign investors were net buyers. The index is up 5.6% YTD.<\/p>\n

In the green: <\/strong>TMG Holding (+2%), Egypt Kuwait Holding (+1.7%) and Elsewedy Electric (+1.7%).<\/p>\n

In the red: <\/strong>Egyptian Iron & Steel (-9.9%), Juhayna (-3.2%) and Madinet Nasr Housing (-2.5%).<\/p>\n

Asian markets are all in the green <\/strong>with the exception of Shanghai, which is down less than 0.1% as we hit dispatch time this morning. Futures suggest Wall Street and Europe are on track to open in the green <\/strong>later today.<\/p>\n","protected":false},"excerpt":{"rendered":"

China smashed 2020: China\u2019s economy is growing at a faster rate than before covid, expanding 6.5% and marking the highest y-o-y growth of any quarter since 2018. China was the only major world economy to grow last year, recording a GDP increase of 2.3% in 2020 despite a historic 6.8% contraction in the early months […]<\/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":[116,107,163,104,72,164,297,119,348,3662,122,83,577,414],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559377","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-china","tag-covid-19","tag-dubai","tag-economy","tag-enterpriseam","tag-equities","tag-europe","tag-financial-markets","tag-gdp","tag-jay-y-lee","tag-planet-finance","tag-real-estate","tag-samsung","tag-south-korea","wpautop","entry"],"acf":{"mongo_id":"697a5d36-938d-49a5-93fd-ea9d92f53b9d","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559353],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 19 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\/19\/what-the-markets-are-doing-on-19-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 19 January 2021\" \/>\n<meta property=\"og:description\" content=\"China smashed 2020: China\u2019s economy is growing at a faster rate than before covid, expanding 6.5% and marking the highest y-o-y growth of any quarter since 2018. 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Draft forecasts seen\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":554136,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/21\/china-makes-the-tiniest-rate-cut-to-spur-economic-growth\/","url_meta":{"origin":559377,"position":2},"title":"China makes the tiniest rate cut to spur economic growth","author":"enterpriseam admin","date":"21 December 2021","format":false,"excerpt":"China cuts lending rate as economy struggles: China\u2019s central bank has cut one of its most important lending rates in a sign that the country is entering an easing cycle, the Financial Times reports. The marginal 5 bps cut to the one-year loan prime rate, which is used as a\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":591193,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/01\/citigroup-is-gearing-up-for-a-new-run-of-gulf-ipos-in-the-coming-months\/","url_meta":{"origin":559377,"position":3},"title":"Citigroup is gearing up for a new run of Gulf IPOs in the coming months","author":"enterpriseam admin","date":"1 August 2023","format":false,"excerpt":"\u201cThe pipeline is solid, it\u2019s promising for post the summer and 2024\u201d","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\/2023\/8\/7.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567953,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/what-the-markets-are-doing-on-13-december-2020\/","url_meta":{"origin":559377,"position":4},"title":"What the markets are doing on 13 December 2020","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"The EGX30 fell 0.3% on Thursday on turnover of EGP 1.4 bn (4% above the 90-day average). Foreign investors were net sellers. The index is down -21.3% YTD.In the green: Eastern Company (+3.4%), Edita (+2.1%) and Credit Agricole (+1%).In the red: Dice (-6.6%), Heliopolis Housing (-4.8%) and Juhayna (-3%). EGX30\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":568114,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/17\/what-the-markets-are-doing-on-17-december-2020\/","url_meta":{"origin":559377,"position":5},"title":"What the markets are doing on 17 December 2020","author":"enterpriseam admin","date":"17 December 2020","format":false,"excerpt":"The EGX30 fell 0.7% yesterday on turnover of EGP 1.5 bn (9.5% above the 90-day average). Foreign investors were net sellers. The index is down 21.3% YTD.In the green: Sidi Kerir Petrochemicals (+1.8%), Ezz Steel (+1.3%) and EFG Hermes (+0.4%).In the red: Beltone Financial Holding (-3.9%), GB Auto (-3.7%) and\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559377","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=559377"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559377\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559353"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559377"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559377"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}