{"id":560205,"date":"2021-02-18T03:55:11","date_gmt":"2021-02-18T03:55:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/18\/what-the-markets-are-doing-on-18-february-2021\/"},"modified":"2021-02-18T03:55:11","modified_gmt":"2021-02-18T03:55:11","slug":"what-the-markets-are-doing-on-18-february-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/18\/what-the-markets-are-doing-on-18-february-2021\/","title":{"rendered":"What the markets are doing on 18 February 2021"},"content":{"rendered":"

<\/a> Egypt to see a swell of inflows from eurobond traders?<\/strong> Emerging markets are becoming a \u201csweet spot\u201d for eurobond investors amid negative yields in Europe and concerns about incoming inflation, Bloomberg<\/a>reported. Inflows into EM bonds have pushed their yield to a 27-month low relative to Europe, suggesting that investors are turning to higher-yielding debt in anticipation of an uptick in inflation. Egypt is already setting the tone for the asset class, with the issuance of USD 3.75 bn of eurobonds in a sale that was c. 4x oversubscribed earlier this month<\/a>.<\/p>\n

And while we\u2019re on the topic of debt: Global debt reached a record USD 281 tn at<\/strong> the end of 2020<\/strong> as governments and individuals around the world borrowed nearly USD 24 tn to offset the economic effects of covid-19. The borrowing spree has already pushed debt to almost 355% of global GDP, but shows no signs of abating as governments are set to continue borrowing a further USD 10 tn by the end of this year to support stimulus measures, according to Bloomberg<\/a>.<\/p>\n

Emerging markets funds\u2019 focus on ESG is \u201cparamount\u201d<\/strong> in the upcoming five years, International Investment<\/a> quoted John Malloy, co-head of emerging and frontier markets at RWC Partners.<\/p>\n

Saudi Arabia could reverse its oil output cuts as of April <\/strong>after agreeing to slash its daily output by 1 mn bbl in February and March in an attempt to buoy prices, the Wall Street Journal<\/a> reports. Oil prices dropped on the news ahead of the OPEC+ meeting next month, when the kingdom is expected to announce its plans, after staging a recovery in recent months on hopes of a successful vaccine rollout.<\/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

11,413<\/p>\n<\/td>\n

\n

-1.1% (YTD: +5.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.59<\/p>\n<\/td>\n

\n

Sell 15.69<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.59<\/p>\n<\/td>\n

\n

Sell 15.69<\/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

9,084<\/p>\n<\/td>\n

\n

-0.2% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

5,636<\/p>\n<\/td>\n

\n

-0.5% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,595<\/p>\n<\/td>\n

\n

-0.6% (YTD: +4.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

3,931<\/p>\n<\/td>\n

\n

- (YTD: +4.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

6,711<\/p>\n<\/td>\n

\n

-0.6% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 65.25<\/p>\n<\/td>\n

\n

+1.4%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 3.27<\/p>\n<\/td>\n

\n

+1.7%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,777.30<\/p>\n<\/td>\n

\n

+0.3%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 52,179.97<\/p>\n<\/td>\n

\n

+5.8%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 fell 1.1% yesterday<\/strong> on turnover of EGP 1.4 bn (3% below the 90-day average). Foreign investors were net buyers. The index is up 5.24% YTD.<\/p>\n

In the green:<\/strong> Orascom Investment Holding (+51.5%), CI Capital (+0.9%) and Sodic (+0.6%).<\/p>\n

In the red:<\/strong> Orascom Financial Holding (-15.5%), Pioneers Holding (-3.3%) and MM Group (-2.5%).<\/p>\n

Asian markets are mixed this morning<\/strong>, with the Nikkei and Shanghai in the green and the Kospi and Hong Kong\u2019s Hang Seng in the red. Futures suggest the Down and S&P will open in the green, while the tech-heavy Nasdaq is trending toward red at dispatch time. We\u2019re also looking at a mixed open in Europe this morning.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt to see a swell of inflows from eurobond traders? Emerging markets are becoming a \u201csweet spot\u201d for eurobond investors amid negative yields in Europe and concerns about incoming inflation, Bloombergreported. Inflows into EM bonds have pushed their yield to a 27-month low relative to Europe, suggesting that investors are turning to higher-yielding debt in […]<\/p>\n","protected":false},"author":1,"featured_media":560206,"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":[116,317,72,119,373,122,3757],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-china","tag-commodities","tag-enterpriseam","tag-financial-markets","tag-mining","tag-planet-finance","tag-pure-life","wpautop","entry"],"acf":{"mongo_id":"38c267c6-2355-49a2-b945-830f86aa3ecd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/276.jpg","photo_position":"above","related_issue":[560181],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 18 February 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\/02\/18\/what-the-markets-are-doing-on-18-february-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 18 February 2021\" \/>\n<meta property=\"og:description\" content=\"Egypt to see a swell of inflows from eurobond traders? 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The issuance, which went to market on Thursday, 21 May, was 4.4x oversubscribed, having attracted bids for\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\/5\/247.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556179,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/the-egyptian-government-to-look-at-markets-again-in-feb-march\/","url_meta":{"origin":560205,"position":1},"title":"The Egyptian government to look at markets again in Feb, March","author":"enterpriseam admin","date":"14 October 2021","format":false,"excerpt":"EXCLUSIVE- How 2022 could be a big year for Egyptian debt, according to FinMin\u2019s Ahmed Kouchouk: Through a mixture of stimulus funding, tax breaks, high interest rates, timely eurobond issuances, and the adoption of new debt instruments (namely, green bonds), Egypt was largely shielded from from the heaviest macroeconomic blows\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578724,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/high-inflation-and-high-rates-could-be-here-to-stay-say-global-asset-managers\/","url_meta":{"origin":560205,"position":2},"title":"High inflation and high rates could be here to stay, say global asset managers","author":"enterpriseam admin","date":"11 January 2023","format":false,"excerpt":"Don\u2019t underestimate inflation \u2014 or how far the Fed will go to rein it in: That\u2019s the message to markets from major asset managers including BlackRock Inc, Fidelity Investments and Carmignac, Bloomberg reports. Investors expecting inflation and rates to peak in 2023 may well be disappointed in the same way\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\/2023\/1\/174.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575372,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/egypt-stock-of-external-debt-reaches-usd-115-bn-in-2019-world-bank\/","url_meta":{"origin":560205,"position":3},"title":"Egypt stock of external debt reaches USD 115 bn in 2019 -World Bank","author":"enterpriseam admin","date":"13 October 2020","format":false,"excerpt":"Egypt\u2019s external debt grew 14.9% in 2019 to USD 115.1, from USD 100.1 bn the previous year, according to the World Bank\u2019s International Debt Statistics 2021 report (pdf). The breakdown: USD 13.1 bn in IMF loans, USD 90.7 bn worth of long-term obligations, and USD 11.3 from short-term debt, World\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\/10\/127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553882,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/inflows-to-em-bonds-equities-slow-fretting-over-us-inflation\/","url_meta":{"origin":560205,"position":4},"title":"Inflows to EM bonds, equities slow + fretting over US inflation","author":"enterpriseam admin","date":"12 December 2021","format":false,"excerpt":"MARKET WATCH- The last time US inflation was this high, Mubarak hadn\u2019t completed the first year of his presidency: Consumer prices in the US rose to 6.8% in November from last year \u2014 the quickest annual pace since 1982, according to official figures released Friday.The figures gave more fodder to\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":543430,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/egypt-rejoins-jpmorgan-bond-index\/","url_meta":{"origin":560205,"position":5},"title":"Egypt rejoins JPMorgan bond index","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Egypt rejoined JPMorgan\u2019s emerging-market bond index following a decade of absence yesterday in a move that could bring new passive flows into the local debt market. Fourteen EGP bonds worth around USD 26 bn have been added to the JPMorgan GBI-EM Global Diversified Index, giving Egypt a weighting of 1.85%,\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\/2022\/2\/2.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\/560205","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=560205"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560205\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560206"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560205"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560205"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}