{"id":561377,"date":"2021-04-05T04:00:50","date_gmt":"2021-04-05T04:00:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/05\/what-the-markets-are-doing-on-5-april-2021\/"},"modified":"2021-04-05T04:00:50","modified_gmt":"2021-04-05T04:00:50","slug":"what-the-markets-are-doing-on-5-april-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/05\/what-the-markets-are-doing-on-5-april-2021\/","title":{"rendered":"What the markets are doing on 5 April 2021"},"content":{"rendered":"

<\/a> Morocco\u2019s debt is now rated junk <\/strong>after S&P downgraded the north African country\u2019s long-term FX and local currency rating to BB+ from BBB-, citing expectations of slow \u201cbudgetary consolidation over 2021-2024,\u201d according to Bloomberg<\/a>. S&P says the rating outlook is now stable, after previously giving Morocco a negative outlook.<\/p>\n

Middle Eastern logistics firm Tristar Transport has priced its planned IPO in Dubai<\/strong> at AED 2.2-2.7 (USD 0.60-0.74) per share<\/strong>, giving the company a market cap of AED 2.64-3.24 bn after listing, it said in a press release<\/a>(pdf)<\/a>. Tristar is offering up to 24% of its shares in the IPO, and could raise as much as AED 777 mn from its secondary and primary sales. If it is priced at the upper end of the range, Tristar\u2019s listing would be the biggest on Dubai\u2019s main exchange since 2017, when Emaar Development\u2019s IPO raised USD 1.3 bn, Bloomberg<\/a> reports. The bidding process started yesterday and will wrap up on 15 April, the statement said.<\/p>\n

A<\/strong> record 76 tech companies shelved plans to list on Shanghai's answer to the <\/strong>Nasdaq, Star Market, last month, <\/strong>after China put the brakes on Alibaba-affiliate and financial tech powerhouse Ant Group's USD 37 bn IPO amid increased scrutiny and tighter regulation, the Financial Times<\/a> reports, citing figures released by the exchange. There have now been over 180 withdrawn offerings on Star compared to 12 in November, when Ant Group\u2019s IPO was canceled. This flurry of cancellations suggests China is backtracking on its plans to simplify listing procedures under a registration-based system, which could throw a wrench in the country's plans to develop its onshore capital markets in light of a US law that could push Chinese companies to delist from Wall Street.<\/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

10,417<\/p>\n<\/td>\n

\n

-1.4% (YTD: -3.95%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

USD (CBE)<\/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

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

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/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

9,962<\/p>\n<\/td>\n

\n

+0.7% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

5,953<\/p>\n<\/td>\n

\n

+0.2% (YTD: +18.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,550<\/p>\n<\/td>\n

\n

-0.3% (YTD: +2.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

4,019<\/p>\n<\/td>\n

\n

+1.2% (YTD: +7.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

6,737<\/p>\n<\/td>\n

\n

+0.4% (YTD: +4.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 64.56<\/p>\n<\/td>\n

\n

-0.5%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 2.61<\/p>\n<\/td>\n

\n

-1.3%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,729.10<\/p>\n<\/td>\n

\n

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

\n

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

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

\n

USD 58,143<\/p>\n<\/td>\n

\n

+1.1% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 fell 1.4% yesterday<\/strong> on turnover of EGP 789 mn (45.2% below the 90-day average). Foreign investors were net sellers. The index is down 4.0% YTD.<\/p>\n

In the green: <\/strong>Eastern Co. (+1.6%) and Oriental Weavers (+0.3%).<\/p>\n

In the red: <\/strong>Abu Qir Fertilizers (-4.4%), MM Group (-3.7%) and Ibnsina Pharma (-3.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Morocco\u2019s debt is now rated junk after S&P downgraded the north African country\u2019s long-term FX and local currency rating to BB+ from BBB-, citing expectations of slow \u201cbudgetary consolidation over 2021-2024,\u201d according to Bloomberg. S&P says the rating outlook is now stable, after previously giving Morocco a negative outlook. Middle Eastern logistics firm Tristar Transport […]<\/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":[3878,82,102,116,380,163,115,72,119,182,78,145,122,343,3879,639,3880],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561377","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-ant-group","tag-bonds","tag-capital-markets","tag-china","tag-currencies","tag-dubai","tag-emerging-markets","tag-enterpriseam","tag-financial-markets","tag-inflation","tag-ipo-watch","tag-logistics","tag-planet-finance","tag-regulation","tag-star-market","tag-technology","tag-tristar-transport","wpautop","entry"],"acf":{"mongo_id":"c30676b7-eab9-4d84-a0b2-e27405c90322","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561356],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 5 April 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\/04\/05\/what-the-markets-are-doing-on-5-april-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 5 April 2021\" \/>\n<meta property=\"og:description\" content=\"Morocco\u2019s debt is now rated junk after S&P downgraded the north African country\u2019s long-term FX and local currency rating to BB+ from BBB-, citing expectations of slow \u201cbudgetary consolidation over 2021-2024,\u201d according to Bloomberg. 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Although covid-19 helped highlight the importance 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":555160,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/bond-market-nervous-equities-shrug-ahead-of-key-fed-meeting\/","url_meta":{"origin":561377,"position":1},"title":"Bond market nervous, equities shrug ahead of key Fed meeting","author":"enterpriseam admin","date":"3 November 2021","format":false,"excerpt":"Volatility is spiking in US bond markets, but equities are turning a blind eye to risk: The uncertain outlook on inflation has jolted US government bonds, as fixed-income investors fret over the impact of the prospective Fed taper. Meanwhile, the S&P 500 stock index chased fresh peaks all through October\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":543619,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/09\/abu-dhabi-ports-shares-surge-on-adx-following-ipo-dubais-shuaa-wants-to-spac\/","url_meta":{"origin":561377,"position":2},"title":"Abu Dhabi ports shares surge on ADX following IPO + Dubai\u2019s SHUAA wants to SPAC","author":"enterpriseam admin","date":"9 February 2022","format":false,"excerpt":"Shares in Abu Dhabi Ports jumped as much as 17% on its ADX debut yesterday, marking the latest success for Gulf listings, Bloomberg reports. The company, which is majority-owned by Abu Dhabi sovereign wealth fund ADQ, raised USD 1.1 bn from its IPO ahead of its debut on the Abu\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":545837,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/dubai-becomes-a-top-five-ipo-destination-as-dewa-shares-soar-on-debut\/","url_meta":{"origin":561377,"position":3},"title":"Dubai becomes a top-five IPO destination as DEWA shares soar on debut","author":"enterpriseam admin","date":"13 April 2022","format":false,"excerpt":"DEWA shares surge on debut: The Dubai Electricity and Water Authority\u2019s (DEWA) shares jumped as much as 23% on their trading debut in Dubai yesterday following the company\u2019s USD 1.6 bn IPO. The company reached a session high of AED 3.05 before paring gains to close at AED 2.87, up\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":584229,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/28\/al-ansari-raises-usd-210-mn-in-dubai-ipo\/","url_meta":{"origin":561377,"position":4},"title":"Al Ansari raises USD 210 mn in Dubai IPO","author":"enterpriseam admin","date":"28 March 2023","format":false,"excerpt":"The sale was 22x oversubscribed","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\/3\/508.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547794,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/boomtime-over-tecom-shares-fall-in-dubai-debut\/","url_meta":{"origin":561377,"position":5},"title":"Boomtime over? Tecom shares fall in Dubai debut","author":"enterpriseam admin","date":"6 July 2022","format":false,"excerpt":"Another sign that the Gulf IPO boom may have peaked: Dubai business park operator Tecom Group dropped as much as 17% in its trading debut in Dubai yesterday, in a fresh sign that Gulf markets are finally feeling the same headwinds as the rest of us. Tecom\u2019s IPO was massively\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\/561377","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=561377"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561377\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561356"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561377"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561377"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}