{"id":561409,"date":"2021-04-06T04:00:43","date_gmt":"2021-04-06T04:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/what-the-markets-are-doing-on-6-april-2021\/"},"modified":"2021-04-06T04:00:43","modified_gmt":"2021-04-06T04:00:43","slug":"what-the-markets-are-doing-on-6-april-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/what-the-markets-are-doing-on-6-april-2021\/","title":{"rendered":"What the markets are doing on 6 April 2021"},"content":{"rendered":"

<\/a> The market value of cryptocurrencies has<\/strong> doubled in just two months<\/strong> to more than USD 2 tn as institutional investors pile into the asset class, Bloomberg<\/a> reported. BTC\u2019s price doubled to USD 58,858 this year and is alone worth over USD 1 trn, while Ether, Binance Coin, Polkadot, Tether and Cardano stand at about USD 422 bn combined.<\/p>\n

Oil prices slumped yesterday after OPEC+ decided last week it <\/strong>would ease<\/a><\/strong>production cuts<\/a><\/strong> starting May.<\/strong> Brent crude fell 4.2%, reversing temporary gains made last week, demonstrating confidence in an imminent rebound in oil demand, Reuters<\/a> reports. Following the announcement, Saudi Arabia raised the official selling price for Asia starting May, amid a mixed recovery that could be stalled by renewed lockdown restrictions in India. But Goldman Sachs analysts remain optimistic that the market can absorb even more supply than OPEC+ is promising, and called the recent price slump \u201ctransient\u201d in a report, Bloomberg<\/a> writes.<\/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

10,257<\/p>\n<\/td>\n

\n

-1.5% (YTD: -5.4%)<\/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

9,964<\/p>\n<\/td>\n

\n

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

\n

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

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

\n

6,015<\/p>\n<\/td>\n

\n

+1.0% (YTD: +19.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,573<\/p>\n<\/td>\n

\n

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

\n

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

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

\n

4,077<\/p>\n<\/td>\n

\n

+1.4% (YTD: +8.6%)<\/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 62.15<\/p>\n<\/td>\n

\n

-4.2%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 2.51<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,729<\/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 58,946<\/p>\n<\/td>\n

\n

+1.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 fell 1.5% yesterday<\/strong> on turnover of EGP 872 mn. (38.7% below the 90-day average) Foreign investors were net sellers.<\/p>\n

In the green: <\/strong>Abu Qir Fertilizers (+4.9%), Eastern Company (+2.1%) and ElSewedy Electric (+2.0%).<\/p>\n

In the red: <\/strong>Pioneers (-8.6%), MM Group (-6.4%) and Orascom Financial (-6.4%).<\/p>\n","protected":false},"excerpt":{"rendered":"

The market value of cryptocurrencies has doubled in just two months to more than USD 2 tn as institutional investors pile into the asset class, Bloomberg reported. BTC\u2019s price doubled to USD 58,858 this year and is alone worth over USD 1 trn, while Ether, Binance Coin, Polkadot, Tether and Cardano stand at about USD […]<\/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":[102,344,72,119,2869,261,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561409","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-capital-markets","tag-cryptocurrency","tag-enterpriseam","tag-financial-markets","tag-gamestop","tag-hedge-funds","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"4888702e-8adf-4512-b3e9-5c2ee7000a39","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561391],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 6 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\/06\/what-the-markets-are-doing-on-6-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 6 April 2021\" \/>\n<meta property=\"og:description\" content=\"The market value of cryptocurrencies has doubled in just two months to more than USD 2 tn as institutional investors pile into the asset class, Bloomberg reported. 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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 "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":579091,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/24\/fed-looks-set-for-a-smaller-quarter-point-hike-next-week\/","url_meta":{"origin":561409,"position":1},"title":"Fed looks set for a smaller quarter-point hike next week","author":"enterpriseam admin","date":"24 January 2023","format":false,"excerpt":"The Federal Reserve looks set to slow the tempo of its interest rate hikes for a second time at its next meeting after December data confirmed a slowdown in inflation, the Wall Street Journal reports. In recent statements, Fed officials have said they favor a 25-bps increase for the 31\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\/420.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549638,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/25\/emerging-markets-will-take-the-worst-of-the-hit-as-more-doom-and-gloom-swept-global-markets-last-week\/","url_meta":{"origin":561409,"position":2},"title":"Emerging markets will take the worst of the hit as more doom and gloom swept global markets last week","author":"enterpriseam admin","date":"25 September 2022","format":false,"excerpt":"Conditions in the financial markets went from bad to worse last week, as higher interest rates pushed everything from stocks to commodities to fresh lows amid weakening economic activity, rising inflation and a strengthening USD. The FTSE All-World index of global stocks lost 5.0% for its worst week since June,\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":561557,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/what-the-markets-are-doing-on-12-april-2021\/","url_meta":{"origin":561409,"position":3},"title":"What the markets are doing on 12 April 2021","author":"enterpriseam admin","date":"12 April 2021","format":false,"excerpt":"The median income of a CEO in the US kept climbing last year \u2014 and is on track to hit record highs, rising to USD 13.7 mn in 2020 from USD 12.8 mn in 2019, the Wall Street Journal reports, citing figures compiled from companies' regulatory filings. Of the 322\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":561696,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/18\/what-the-markets-are-doing-on-18-april-2021\/","url_meta":{"origin":561409,"position":4},"title":"What the markets are doing on 18 April 2021","author":"enterpriseam admin","date":"18 April 2021","format":false,"excerpt":"US banks\u2019 earnings season is still going strong: Bank of America reported stronger-than-expected earnings in 1Q2021, with its net income doubling during the three-month period to reach USD 8.1 bn, according to the multinational investment bank's financials (pdf). Bank of America\u2019s performance comes as it released USD 2.7 bn in\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":544795,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/aramco-profits-double-in-2021-announces-plans-to-raise-oil-gas-production\/","url_meta":{"origin":561409,"position":5},"title":"Aramco profits double in 2021, announces plans to raise oil + gas production","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"Saudi Aramco plans to hike spending this year as it looks to ramp up oil and gas production in the coming years, the oil giant said in its latest earnings release yesterday. Rising oil prices last year helped Aramco stage a dramatic turnaround from 2020, with the company reporting yesterday\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\/561409","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=561409"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561409\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561391"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561409"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561409"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}