{"id":560247,"date":"2021-02-21T04:07:45","date_gmt":"2021-02-21T04:07:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/"},"modified":"2021-02-21T04:07:45","modified_gmt":"2021-02-21T04:07:45","slug":"what-the-markets-are-doing-on-21-february-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/","title":{"rendered":"What the markets are doing on 21 February 2021"},"content":{"rendered":"

<\/a> Climate change mitigation is the only factor that can drive the so-called <\/strong>commodities supercycle. <\/strong>This is the takeaway from an op-ed by CRU Chief Economist Jumana Saleheen for the Financial Times<\/a> who casts doubt that the recent \u201cpanglossian\u201d optimism over vaccines will bring us a new commodities boom, and warns those who are banking on huge new demand from China about Beijing\u2019s its new dual circulation strategy<\/a>, which will lessen its dependence on commodity imports.<\/p>\n

Too early to call a supercycle?<\/strong> Huge demand for copper, nickel, lithium, cobalt and other materials necessary to produce low-carbon technology could be created, but only when policymakers act decisively. \u201cClimate action is the only factor that has the potential to drive a multiyear commodity price rally<\/strong>. But a lot must be said and done before that materializes. It is too early to call a supercycle,\u201d she writes.<\/p>\n

Inflation is on the increase in the US and this isn\u2019t great for emerging markets. <\/strong>The pickup has translated into higher treasury yields, meaning it could drive investors away from EMs and diminish the rally in EM asset classes as risky holdings become less attractive, according to Bloomberg<\/a>. Investors are pricing in Biden\u2019s USD 1.9 tn stimulus plan, driving the benchmark 10-year yields to their highest level in a year. This could also mean a quick repricing in EM bonds, said Sid Mathur, head of Asia Pacific research at BNP Paribas.<\/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

11,381<\/p>\n<\/td>\n

\n

-0.3% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.61<\/p>\n<\/td>\n

\n

Sell 15.71<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.60<\/p>\n<\/td>\n

\n

Sell 15.70<\/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

9,024<\/p>\n<\/td>\n

\n

-0.7% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

5,643<\/p>\n<\/td>\n

\n

+0.1% (YTD: +11.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,576<\/p>\n<\/td>\n

\n

-0.7% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

3,907<\/p>\n<\/td>\n

\n

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

\n

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

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

\n

6,624<\/p>\n<\/td>\n

\n

+0.1% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 62.91<\/p>\n<\/td>\n

\n

-1.6%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 3.07<\/p>\n<\/td>\n

\n

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

\n

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

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

\n

USD 1,777.40<\/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 56,579.03<\/p>\n<\/td>\n

\n

+0.9%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 fell 0.3% on Thursday<\/strong> on turnover of EGP 1.3 bn (9.8% below the 90-day average). Local investors were net buyers. The index is up 4.9% year-to-date.<\/p>\n

In the green:<\/strong> Orascom Investment Holding (+4.3%), Abou Kir Fertilizers (+3.3%) and Sidi Kerir Petrochemicals (+3.2%).<\/p>\n

In the red:<\/strong> Orascom Financial Holding (-6.2%), Palm Hills Development (-3.2%) and ElSewedy Electric (-2.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Climate change mitigation is the only factor that can drive the so-called commodities supercycle. This is the takeaway from an op-ed by CRU Chief Economist Jumana Saleheen for the Financial Times who casts doubt that the recent \u201cpanglossian\u201d optimism over vaccines will bring us a new commodities boom, and warns those who are banking on […]<\/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":[116,3761,7106,115,72,119,182,3762,131,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560247","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-china","tag-climate-change-action","tag-debt","tag-emerging-markets","tag-enterpriseam","tag-financial-markets","tag-inflation","tag-jumana-seleheen","tag-manufacturing","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"afbe457b-8ed0-4432-8674-71c025a9aee1","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560220],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 21 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\/21\/what-the-markets-are-doing-on-21-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 21 February 2021\" \/>\n<meta property=\"og:description\" content=\"Climate change mitigation is the only factor that can drive the so-called commodities supercycle. This is the takeaway from an op-ed by CRU Chief Economist Jumana Saleheen for the Financial Times who casts doubt that the recent \u201cpanglossian\u201d optimism over vaccines will bring us a new commodities boom, and warns those who are banking on […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-21T04:07:45+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What the markets are doing on 21 February 2021\",\"datePublished\":\"2021-02-21T04:07:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/\"},\"wordCount\":339,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"China\",\"climate change action\",\"debt\",\"emerging markets\",\"EnterpriseAM\",\"Financial Markets\",\"inflation\",\"Jumana Seleheen\",\"Manufacturing\",\"Planet Finance\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/21\/what-the-markets-are-doing-on-21-february-2021\/\",\"name\":\"What the markets are doing on 21 February 2021 - 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In a supercycle, EM usually find higher demand for their wares, whether that\u2019s agricultural output from Argentina and Egypt, minerals and ores out of Brazil, or metallurgical\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":562151,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/planet-finance-rising-commodity-prices-are-good-news-for-em\/","url_meta":{"origin":560247,"position":2},"title":"Planet Finance: Rising commodity prices are good news for EM","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"SUPERCYCLE WATCH- Copper prices are at all-time highs off of optimism over an economic rebound that has fueled talk of a commodities supercycle amid soaring raw material prices, Bloomberg reports. The surge in prices is raising the prospect of imminent inflation \u2014 despite some analysts suggesting it will be transitory\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":560166,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/what-the-markets-are-doing-on-17-february-2021\/","url_meta":{"origin":560247,"position":3},"title":"What the markets are doing on 17 February 2021","author":"enterpriseam admin","date":"17 February 2021","format":false,"excerpt":"Musk probably isn\u2019t going to be tweeting about copper any time soon: Some of the world\u2019s largest miners are getting ready to pay out bumper dividends as the sector enjoys what the Financial Times is calling a \u201cblistering run\u201d in commodities prices. The price of iron ore has surged almost\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":563099,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/is-a-supercycle-in-global-oil-prices-on-the-horizon\/","url_meta":{"origin":560247,"position":4},"title":"Is a supercycle in global oil prices on the horizon?","author":"enterpriseam admin","date":"17 June 2021","format":false,"excerpt":"SUPERCYCLE WATCH- Is a supercycle in global oil prices on the horizon? Perhaps, according to Saudi Arabia\u2019s energy minister, who has warned that a drop-off in exploration could further squeeze supply in an already-tight market, causing prices to surge, according to Bloomberg.Oil prices have been on a tear as of\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":562959,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/reducing-carbon-emissions-could-fuel-the-commodities-boom-further\/","url_meta":{"origin":560247,"position":5},"title":"Reducing carbon emissions could fuel the commodities boom further","author":"enterpriseam admin","date":"13 June 2021","format":false,"excerpt":"SUPERCYCLE WATCH- Global prices of metals from copper to steel are likely to soar further as China cuts production to hit its ambitious carbon emissions targets, according to the Financial Times. China, which produces 56% of the world\u2019s steel, plans to cut 236 mn tonnes of steel capacity in its\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\/560247","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=560247"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560247\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560220"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560247"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560247"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}