{"id":561923,"date":"2021-04-26T04:00:19","date_gmt":"2021-04-26T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/what-the-markets-are-doing-on-26-april-2021\/"},"modified":"2021-04-26T04:00:19","modified_gmt":"2021-04-26T04:00:19","slug":"what-the-markets-are-doing-on-26-april-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/what-the-markets-are-doing-on-26-april-2021\/","title":{"rendered":"What the markets are doing on 26 April 2021"},"content":{"rendered":"<p><strong><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> Higher crude prices won't give Big Oil its swagger back:<\/strong> Although the recent recovery of Brent crude prices is helping the world\u2019s top oil and gas producers compensate for their 2020 losses, Big Oil is unlikely to reap benefits. After taking on debt last year to keep up with the financial strain of maintaining dividend payouts in 2020, oil majors such as ExxonMobil and Total are now directing surplus revenues to pay down their pandemic-induced debts, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-25\/big-oil-sees-cash-rolling-in-but-investors-won-t-get-it-yet?sref=mmeFTDW1\">Bloomberg<\/a> reports. Major oil companies now \u201chave limited appeal as long-term investments because they can\u2019t demonstrate that they can deliver cashflow on a sustainable basis and return it on a sustainable basis,\u201d JPMorgan Chase & Co.\u2019s head of EMEA oil and gas Christyan Malek tells the business information service.<\/p>\n<p><strong>MARKET WATCH-<\/strong> <strong>Western economies are poised for a consumer-led rebound <\/strong>from covid as vaccinations gradually restore normalcy, says the <a href=\"https:\/\/www.wsj.com\/articles\/the-west-looks-past-covid-19-and-sees-economic-resurgence-11619343619?mod=hp_lead_pos2\">Wall Street Journal<\/a>. Vaccinated people could return with force to shops and hotels, releasing savings they had amassed during the pandemic \u2014 which Moody\u2019s Analytics estimates exceeds USD 5.4 tn worldwide.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,604<\/p>\n<\/td>\n<td>\n<p>-% (YTD: -2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,142<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,117<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +21.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,627<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,180<\/p>\n<\/td>\n<td>\n<p>+1.1% (YTD: +11.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,938<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 66.20<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.73<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,780.00<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 50,761<\/p>\n<\/td>\n<td>\n<p>+1.1% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>The EGX30 ended today\u2019s session flat<\/strong> on turnover of EGP 892 mn (31.5% below the 90-day average). Regional investors were net buyers. The index is down 2.2% YTD.<\/p>\n<p><strong>In the green:<\/strong> Orascom Development (+4.1%), Qalaa Holdings (+3.0%) and SODIC (+2.6%).<\/p>\n<p><strong>In the red:<\/strong> AMOC (-1.3%), MM Group (-1.1%) and Fawry (-0.9%).<\/p>\n<p><strong>Asian markets are in the green in early trading this morning<\/strong>. European shares look set to fall when markets open in the coming hours, while futures show US stocks opening in the green later today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Higher crude prices won't give Big Oil its swagger back: Although the recent recovery of Brent crude prices is helping the world\u2019s top oil and gas producers compensate for their 2020 losses, Big Oil is unlikely to reap benefits. After taking on debt last year to keep up with the financial strain of maintaining dividend [&hellip;]<\/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":[780,107,72,778,119,91,122,594,1990],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561923","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-chevron","tag-covid-19","tag-enterpriseam","tag-exxonmobil","tag-financial-markets","tag-oil-and-gas","tag-planet-finance","tag-shell","tag-totalenergies","wpautop","entry"],"acf":{"mongo_id":"a77c903d-a7dc-4724-a34d-26e251859846","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561898],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What the markets are doing on 26 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\/26\/what-the-markets-are-doing-on-26-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 26 April 2021\" \/>\n<meta property=\"og:description\" content=\"Higher crude prices won&#039;t give Big Oil its swagger back: Although the recent recovery of Brent crude prices is helping the world\u2019s top oil and gas producers compensate for their 2020 losses, Big Oil is unlikely to reap benefits. 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No further details were provided, but the company said earlier this year it is planning to\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600892,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypt-reveals-winners-of-oil-and-gas-bid-round\/","url_meta":{"origin":561923,"position":2},"title":"Egypt reveals winners of oil and gas bid round","author":"enterpriseam admin","date":"13 February 2019","format":false,"excerpt":"The deluge of oil and gas news continues thanks to the second day of the Egypt Petroleum Show. Key takeaways from the second day of the gathering are below, and you can check our wrap-up of day one here. Shell wins big in oil and gas bid rounds, ExxonMobil to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/156.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":607744,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/09\/opec-maintains-oil-supply-curbs-oil-prices-plunge-anyway\/","url_meta":{"origin":561923,"position":3},"title":"OPEC+ maintains oil supply curbs. Oil prices plunge anyway.","author":"enterpriseam admin","date":"9 October 2023","format":false,"excerpt":"The oil market experienced its worst day of trading in over a year following the decision due concerns that slumping economic growth will hit demand","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/435.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543701,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/14\/planet-finance-oil-and-gas-bonds-get-a-boost-as-crude-prices-soar-eu-antitrust-probe-into-qatari-gas-contracts-halted-amid-energy-crisis\/","url_meta":{"origin":561923,"position":4},"title":"Planet Finance: Oil and gas bonds get a boost as crude prices soar + EU antitrust probe into Qatari gas contracts halted amid energy crisis","author":"enterpriseam admin","date":"14 February 2022","format":false,"excerpt":"Investor appetite for oil + gas bonds grows as prices rally: Investors are keen to buy oil and gas companies\u2019 debt as crude oil prices soar, the Financial Times reports. Funds are now overweight on high-yield energy bonds, while one US gas producer reportedly saw double the usual levels of\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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":543852,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/big-firms-splash-pandemic-stash-on-buybacks\/","url_meta":{"origin":561923,"position":5},"title":"Big firms splash pandemic stash on buybacks","author":"enterpriseam admin","date":"21 February 2022","format":false,"excerpt":"US companies have been leveraging high cash balances accrued during the pandemic to increase share buybacks, in a trend that looks set to continue throughout 2022, data compiled by Bloomberg shows. Total 2021 share buybacks could exceed USD 870 bn when the data is complete, topping 2018\u2019s record USD 806\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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\/561923","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=561923"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561923\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561898"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561923"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561923"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}