{"id":562035,"date":"2021-05-04T03:36:15","date_gmt":"2021-05-04T03:36:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/what-the-markets-are-doing-on-4-may-2021\/"},"modified":"2021-05-04T03:36:15","modified_gmt":"2021-05-04T03:36:15","slug":"what-the-markets-are-doing-on-4-may-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/what-the-markets-are-doing-on-4-may-2021\/","title":{"rendered":"What the markets are doing on 4 May 2021"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>The US and Eurozone could return to pre-covid growth levels by the end of 2021<\/strong>, economists said, revising growth forecasts upwards after recently released figures showed stronger resilience than previously expected, the <a href=\"https:\/\/www.ft.com\/content\/dce3f4be-2da7-4cf8-a990-a867a9c2eb86\">Financial Times<\/a> reports. Previous IMF forecasts predicted a US recovery would not take place before mid-2022, but increased spending on the back of President Joe Biden\u2019s USD 1.9 tn stimulus package has improved recovery prospects, economists say. The EU similarly did not record as large a contraction as predicted by the IMF, leaving it on track for a recovery during 2022.<\/p>\n<p><strong>Warren Buffett's Berkshire Hathaway returned to profitability in 1Q2021<\/strong>, posting net income of USD 11.7 bn compared to a loss of USD 49.7 bn a year earlier when the value of its stock investments plummeted on the back of the pandemic, according to <a href=\"https:\/\/ent.news\/2021\/5\/may0121.pdf\">an earnings release (pdf)<\/a>. Many of Berkshire\u2019s subsidiaries have \u201cexperienced significant recoveries\u201d and \u201cthe first quarter\u2019s revenues and earnings for these businesses were considerably higher than in the first quarter of 2020,\u201d Buffett said during a shareholder meeting on Saturday (<a href=\"https:\/\/finance.yahoo.com\/brklivestream\">watch, runtime: 5:13:53<\/a>).<\/p>\n<p><strong>Berkshire resisted shareholder resolutions calling for it to report its efforts to address climate change and workforce diversity<\/strong>, despite growing calls among some of the world\u2019s largest investors that climate disclosures should be a must for all companies, <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/berkshire-shareholders-reject-climate-change-diversity-proposals-that-buffett-2021-05-01\/\">Reuters<\/a> reports.<\/p>\n<p><strong>The Oracle of Omaha warns of incoming inflation:<\/strong> Buffett said his portfolio companies were \u201cseeing very substantial inflation\u201d in a range of sectors amid shortages of raw materials and high savings, signaling further price pressures in the US amid a \u201cred hot\u201d recovery from the worst of the coronavirus pandemic.<\/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-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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,475<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: -3.4%)<\/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-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,309<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +18.6%)<\/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>6,095<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +20.8%)<\/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>2,654<\/p>\n<\/td>\n<td>\n<p>+1.1% (YTD: +6.5%)<\/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>4,193<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +11.6%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,970<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +7.9%)<\/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 67.73<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/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 2.96<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,790.30<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 55,915.40<\/p>\n<\/td>\n<td>\n<p>-3.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>The EGX30 fell 1.1% on Wednesday<\/strong> on turnover of EGP 795 mn (37.8% below the 90-day average). Foreign investors were net sellers. The index is down 3.4% YTD.<\/p>\n<p><strong>In the green:<\/strong> Cleopatra Hospital (+1.6%), Fawry (+0.8%) and Orascom Development (+0.3%).<\/p>\n<p><strong>In the red:<\/strong> ElSewedy Electric (-3.1%), MM Group (-2.7%) and Oriental Weavers (-2.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US and Eurozone could return to pre-covid growth levels by the end of 2021, economists said, revising growth forecasts upwards after recently released figures showed stronger resilience than previously expected, the Financial Times reports. Previous IMF forecasts predicted a US recovery would not take place before mid-2022, but increased spending on the back of [&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":[1114,3756,72,119,122,236],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562035","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-apollo","tag-berkshire-hathaway","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-warren-buffett","wpautop","entry"],"acf":{"mongo_id":"2880059f-ac65-4048-95d5-1289ffe1f4e3","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[562009],"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 4 May 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\/05\/04\/what-the-markets-are-doing-on-4-may-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 4 May 2021\" \/>\n<meta property=\"og:description\" content=\"The US and Eurozone could return to pre-covid growth levels by the end of 2021, economists said, revising growth forecasts upwards after recently released figures showed stronger resilience than previously expected, the Financial Times reports. 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