{"id":559457,"date":"2021-01-21T03:45:47","date_gmt":"2021-01-21T03:45:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/what-the-markets-are-doing-on-21-january-2021\/"},"modified":"2021-01-21T03:45:47","modified_gmt":"2021-01-21T03:45:47","slug":"what-the-markets-are-doing-on-21-january-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/what-the-markets-are-doing-on-21-january-2021\/","title":{"rendered":"What the markets are doing on 21 January 2021"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>Earnings season continues in the US of A:<\/strong><\/p>\n<ul>\n<li><strong>Morgan Stanley <\/strong><strong>has <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-20\/morgan-stanley-traders-drive-earnings-surge-for-bank-s-best-year?sref=mmeFTDW1\">its best year ever<\/a><\/strong><strong> in 2020<\/strong><strong> after profits grew by<\/strong><strong> 42% more than forecasts had suggested <\/strong><strong>4Q2020<\/strong>, off the back of high trading volumes in the last quarter, according to an <a href=\"https:\/\/www.morganstanley.com\/about-us-ir\/shareholder\/4q2020.pdf\">earnings release (pdf)<\/a>.<\/li>\n<li><strong>Our newfound germophobia was good news for P&G<\/strong>, which raised its sales forecast for the second time in a year and reported an 8% rise in sales in 4Q off the back of covid-driven demand for cleaning products, <a href=\"https:\/\/www.reuters.com\/article\/us-procter-gamble-results\/pandemic-driven-cleaning-routines-boost-pg-sales-forecast-again-idUSKBN29P1ES\">Reuters<\/a> reports.<\/li>\n<\/ul>\n<p><strong>The Bahraini government closed a USD 2 bn three-tranche bond sale<\/strong> as the pandemic and low oil prices continue to weigh on its fiscal deficit and pushed its debt dues to USD 40 bn, reports <a href=\"https:\/\/www.reuters.com\/article\/us-bahrain-bonds\/bahrain-gets-2-billion-in-bond-sale-after-deficit-spike-idUSKBN29P125?il=0\">Reuters<\/a>.<\/p>\n<p><strong>A global shipping container shortage has sent prices skyrocketing<\/strong> to more than three times their price just two months ago, <a href=\"https:\/\/www.ft.com\/content\/ad5e1a80-cecf-4b18-9035-ee50be9adfc6\">the FT<\/a> reports. The sudden increase has been attributed to a supply chain \u201cbottleneck\u201d as a sharp rebound in western demand for Asian goods has left companies battling for access to containers and shipping lines, said SeaIntelligence consultant Lars Jensen.<\/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-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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,599<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +6.9%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.67<\/p>\n<\/td>\n<td>\n<p>Sell 15.77<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.68<\/p>\n<\/td>\n<td>\n<p>Sell 15.78<\/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>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>8,878<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +2.2%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,676<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +12.5%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,792<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +12.1%)<\/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>S&P<\/strong> <strong>500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,851<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +2.6%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,740<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +4.3%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 55.67<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/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 2.54<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,872<\/p>\n<\/td>\n<td>\n<p>+1.7%<\/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 34,943<\/p>\n<\/td>\n<td>\n<p>-4.4%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>The EGX30 rose 1% yesterday<\/strong> on turnover of EGP 1.7 bn (20.8% above the 90-day average). Local investors were net buyers. The index is up 6.9% YTD.<\/p>\n<p><strong>In the green: <\/strong>Pioneers Holding (+8.5%), Egyptian Iron & Steel (+7.5%) and Beltone Financial Holding (+6.9%).<\/p>\n<p><strong>In the red: <\/strong>Ezz Steel (-0.8%), Egypt Kuwait Holding (-0.7%) and CIRA (-0.6%).<\/p>\n<p><strong>It\u2019s a sea of green this morning: <\/strong>Asian shares are up and futures suggest a nice bounce for investors in day two of the Biden administration, with shares in Europe and North America on track to open in the green later today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earnings season continues in the US of A: Morgan Stanley has its best year ever in 2020 after profits grew by 42% more than forecasts had suggested 4Q2020, off the back of high trading volumes in the last quarter, according to an earnings release (pdf). Our newfound germophobia was good news for P&#038;G, which raised [&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":[473,82,302,72,119,508,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559457","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-bahrain","tag-bonds","tag-earnings","tag-enterpriseam","tag-financial-markets","tag-morgan-stanley","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"b48526b3-ff33-47b7-83c1-d3d8849d4aa4","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559433],"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>What the markets are doing on 21 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\/21\/what-the-markets-are-doing-on-21-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 21 January 2021\" \/>\n<meta property=\"og:description\" content=\"Earnings season continues in the US of A: Morgan Stanley has its best year ever in 2020 after profits grew by 42% more than forecasts had suggested 4Q2020, off the back of high trading volumes in the last quarter, according to an earnings release (pdf). 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Bank of America, meanwhile, reported a 22% y-o-y drop in net income to USD 5.5 bn amid\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":542872,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/20\/nasdaq-falls-into-correction-as-tech-exit-continues-early-swvl-investors-eye-africa-spac\/","url_meta":{"origin":559457,"position":2},"title":"Nasdaq falls into correction as tech exit continues + Early Swvl investors eye Africa SPAC","author":"enterpriseam admin","date":"20 January 2022","format":false,"excerpt":"Nasdaq enters correction as Wall Street sell-off continues: The sell-off in US tech stocks continued yesterday, leaving the Nasdaq down 10.7% from its November peak and officially putting it in correction territory. 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