{"id":560595,"date":"2021-03-04T03:59:11","date_gmt":"2021-03-04T03:59:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/what-the-markets-are-doing-on-4-march-2021\/"},"modified":"2021-03-04T03:59:11","modified_gmt":"2021-03-04T03:59:11","slug":"what-the-markets-are-doing-on-4-march-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/what-the-markets-are-doing-on-4-march-2021\/","title":{"rendered":"What the markets are doing on 4 March 2021"},"content":{"rendered":"

<\/a> It\u2019s Beijing\u2019s turn to sound the bubble alarm:<\/strong> China is likely to see further monetary tightening amid threats arising from \u201clarge bubbles\u201d in China\u2019s property and global financial markets, the country\u2019s chief banking regulator has said, according to the Financial Times<\/a>. \u201cI\u2019m worried the bubble problem in foreign financial markets will one day pop,\u201d he said. \u201cChina\u2019s market is now highly linked to foreign markets and foreign capital continues to flow in.\u201d<\/p>\n

Turbulence in the US treasury market has exacerbated concerns that the world\u2019s <\/strong>largest debt market \u2014 worth USD 21 tn \u2014 may be in need of restructuring<\/strong>, the Financial Times<\/a> reports. A bond sell off<\/a> last week saw treasury yields soar, prompting big traders to back away from the market and causing a temporary liquidity shock in what is normally one of the most liquid markets in the world. This has prompted calls for regulators to come up with solutions to support the increasingly fragile market, especially as the end of covid-era measures that eased capital requirements for banks threatens to leave it with fewer buyers.<\/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

11,393<\/p>\n<\/td>\n

\n

-0.7% (YTD: +5.1%)<\/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 15.61<\/p>\n<\/td>\n

\n

Sell 15.71<\/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

9,310<\/p>\n<\/td>\n

\n

+0.7% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

5,700<\/p>\n<\/td>\n

\n

-0.2% (YTD: +13.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,590<\/p>\n<\/td>\n

\n

+0.8% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

3,820<\/p>\n<\/td>\n

\n

-1.3% (YTD: +1.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

6,676<\/p>\n<\/td>\n

\n

+0.9% (YTD: +3.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 64.20<\/p>\n<\/td>\n

\n

+0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 2.80<\/p>\n<\/td>\n

\n

-0.46%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,712.60<\/p>\n<\/td>\n

\n

-0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 51,542.58<\/p>\n<\/td>\n

\n

+5.3%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 fell 0.7% yesterday<\/strong> on turnover of EGP 1.59 bn (8% above the 90-day average). Foreign investors were net sellers. The index is up 5.05% YTD.<\/p>\n

In the green: <\/strong>Sidi Kerir (+0.7%), EKH (+0.6%) and CIB (+0.5%).<\/p>\n

In the red: <\/strong>Pioneers (-7.6%), MM Group (-6.3%) and Orascom Financial (-5.9%).<\/p>\n

Asian markets are down in early trading this morning<\/strong> and futures suggest US markets will follow suit later today.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s Beijing\u2019s turn to sound the bubble alarm: China is likely to see further monetary tightening amid threats arising from \u201clarge bubbles\u201d in China\u2019s property and global financial markets, the country\u2019s chief banking regulator has said, according to the Financial Times. \u201cI\u2019m worried the bubble problem in foreign financial markets will one day pop,\u201d he […]<\/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":[534,116,72,119,3793,120,122,439],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560595","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-anghami","tag-china","tag-enterpriseam","tag-financial-markets","tag-market-bubble","tag-nasdaq","tag-planet-finance","tag-spacs","wpautop","entry"],"acf":{"mongo_id":"eba342d6-289e-4c82-86bd-6c2cc228d7e6","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560571],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 4 March 2021 - 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Stretched valuations, a resurgent greenback, rising yields on\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":559501,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/24\/what-the-markets-are-doing-on-24-january-2021\/","url_meta":{"origin":560595,"position":1},"title":"What the markets are doing on 24 January 2021","author":"enterpriseam admin","date":"24 January 2021","format":false,"excerpt":"It\u2019s earnings week in the US of A with Apple, Microsoft and Tesla all set to make announcements alongside more than a fifth of the S&P 500, the Wall Street Journal notes. Boeing and McDonald\u2019s will also announce results, \u201cshedding more light on how businesses performed at the end 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":657918,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/29\/india-is-on-track-to-become-second-biggest-ipo-market-in-2024\/","url_meta":{"origin":560595,"position":2},"title":"India is on track to become second biggest IPO market in 2024","author":"enterpriseam admin","date":"29 December 2024","format":false,"excerpt":"India\u2019s IPO boom comes amid slowing market activity in China","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\/2024\/5\/839.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568072,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/16\/what-the-markets-are-doing-on-16-december-2020\/","url_meta":{"origin":560595,"position":3},"title":"What the markets are doing on 16 December 2020","author":"enterpriseam admin","date":"16 December 2020","format":false,"excerpt":"The EGX30 rose 0.1% yesterday on turnover of EGP 1.6 bn (15.4% above the 90-day average). Foreign investors were net sellers The index is down -20.8% YTD.In the green: Cleopatra Hospital (+3.9%), Ezz Steel (3.7%) and Sidi Kerir Petrochemicals (+3.5%).In the red: Dice (-7.4%), Egyptian Iron & Steel (-3.3%) 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":[]},{"id":549925,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/is-china-positioning-itself-to-snap-up-oil-reserves-when-it-lifts-its-covid-zero-policy\/","url_meta":{"origin":560595,"position":4},"title":"Is China positioning itself to snap up oil reserves when it lifts its covid-zero policy?","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Could snap up remaining global oil reserves? The CEO of Saudi Aramco has warned that China will likely snap up spare oil capacity when it lifts its covid-zero strategy, Bloomberg reports. Crude oil prices dropped below USD 90 a barrel partly due to China\u2019s strict covid restrictions suppressing demand. Analysts\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":560523,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/02\/what-the-markets-are-doing-on-2-march-2021\/","url_meta":{"origin":560595,"position":5},"title":"What the markets are doing on 2 March 2021","author":"enterpriseam admin","date":"2 March 2021","format":false,"excerpt":"Turkey is the new pin-up for emerging markets: The Turkish economy grew at a faster rate than all its G20 peers except China in the final quarter of 2020, thanks to a pick-up in consumer spending, according to Bloomberg. The country recorded a growth rate of 5.9%, propelled by lower\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\/560595","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=560595"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560595\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560571"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560595"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560595"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}