{"id":567620,"date":"2020-12-01T03:59:35","date_gmt":"2020-12-01T03:59:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/01\/what-the-markets-are-doing-on-1-december-2020\/"},"modified":"2020-12-01T03:59:35","modified_gmt":"2020-12-01T03:59:35","slug":"what-the-markets-are-doing-on-1-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/01\/what-the-markets-are-doing-on-1-december-2020\/","title":{"rendered":"What the markets are doing on 1 December 2020"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a><strong> The EGX30 fell 0.6% yesterday on turnover of EGP 1.8 bn <\/strong>(29.3% above the 90-day average) as foreign investors were net sellers. The index is down 21.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>GB Auto (+4.3%), SODIC (+2.4%) and Egyptian Iron & Steel (+1.6%).<\/p>\n<p><strong>In the red: <\/strong>CIRA (-2.6%), Oriental Weavers (-2.5%) and Eastern Company (-2.2%).<\/p>\n<p><strong>Asian markets are in the green in early trading this morning<\/strong> and futures suggest US and European markets are likely to do the same later today after falling in yesterday\u2019s session.<\/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>10,943<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: -21.6%)<\/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 15.60<\/p>\n<\/td>\n<td>\n<p>Sell 15.70<\/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 15.61<\/p>\n<\/td>\n<td>\n<p>Sell 15.71<\/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>8,747<\/p>\n<\/td>\n<td>\n<p>+0.44% (YTD: 4.27%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>4,964<\/p>\n<\/td>\n<td>\n<p>-0.42% (YTD: -2.18%)<\/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>2,419<\/p>\n<\/td>\n<td>\n<p>+0.82% (YTD: -12.49%)<\/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>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,621<\/p>\n<\/td>\n<td>\n<p>-0.46% (YTD: +12.10%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,266<\/p>\n<\/td>\n<td>\n<p>-1.59% (YTD: -16.92%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 47.59<\/p>\n<\/td>\n<td>\n<p>-1.22%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.93<\/p>\n<\/td>\n<td>\n<p>+3.20%<\/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 1,779.90<\/p>\n<\/td>\n<td>\n<p>-0.46%<\/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 19,378<\/p>\n<\/td>\n<td>\n<p>+6.83%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>Moody\u2019s is bearish on EM banks\u2019 in 2021 <\/strong>as operating conditions across Africa are expected to remain difficult throughout next year as banks contend with muted economic activity, the credit rater said in a <a href=\"https:\/\/www.moodys.com\/researchdocumentcontentpage.aspx?docid=PBC_1249871\">research note<\/a>. Emerging market banks with large holdings in government securities stand at a double risk from central banks\u2019 reduced capacity for fiscal support, and the possibility of deposit freezes. A silver lining? Major events like Dubai\u2019s Expo and the World Cup are expected to support banks\u2019 credit profiles and boost business confidence in the Gulf.<\/p>\n<p><strong>POST-OIL- How\u2019s <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-05\/exxon-carbon-emissions-and-climate-leaked-plans-reveal-rising-co2-output?sref=mmeFTDW1\">doubling down on hydrocarbons<\/a><\/strong><strong> working out for you, Exxon?<\/strong> The US oil giant is taking an axe to its budget and plans to write-off some USD 20 bn of its assets this quarter as it reels from the effects of the pandemic, <a href=\"https:\/\/www.ft.com\/content\/145765b3-2385-4d2f-a71b-82d9b81e85da\">the FT<\/a> says.<\/p>\n<p><strong>Division in the ranks sees OPEC+ meeting pushed to Thursday:<\/strong> Oil exporters that make up the loose OPEC+ alliance failed to agree on whether to extend or lift production cuts amid sluggish demand caused by the pandemic, <a href=\"https:\/\/www.reuters.com\/article\/us-oil-opec\/opec-reaches-consensus-to-extend-oil-cuts-by-three-months-algeria-says-idUSKBN28A0X3\">Reuters<\/a> reports. The meeting, which was supposed to wrap up today, has been pushed to 3 December after the UAE and Russia came out in favor of increasing production from January, a position not shared by Saudi Arabia which favors leaving output levels on hold to stimulate prices.<\/p>\n<p><strong>GLOBAL M&A- S&P Global just sealed the biggest buyout of the year.<\/strong> The financial analytics firm will give Bloomberg a run for its money after agreeing to buy IHS Markit for USD 44 bn in a blockbuster acquisition that will create what <a href=\"https:\/\/www.ft.com\/content\/fb040ea4-868d-4491-8c13-8169b97255d5\">the Financial Times<\/a> is calling a \u201cdata and information powerhouse.\u201d<\/p>\n<p><strong>UK bn\u2019aire Phillip Green\u2019s empire is falling:<\/strong> The retail tycoon\u2019s Arcadia Group \u2014 owner of Topshop, Miss Selfridge, Dorothy Perkins, Evans and Burton \u2014 filed for bankruptcy and called for the administrators from Deloitte yesterday, putting 13k jobs at risk, <a href=\"https:\/\/www.theguardian.com\/business\/2020\/nov\/30\/philip-green-arcadia-group-collapses-into-administration\">the Guardian<\/a> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGX30 fell 0.6% yesterday on turnover of EGP 1.8 bn (29.3% above the 90-day average) as foreign investors were net sellers. The index is down 21.6% YTD. In the green: GB Auto (+4.3%), SODIC (+2.4%) and Egyptian Iron &#038; Steel (+1.6%). In the red: CIRA (-2.6%), Oriental Weavers (-2.5%) and Eastern Company (-2.2%). Asian [&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":[402,247,72,119,241,1202,122,312],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567620","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-cira-education","tag-eastern-company","tag-enterpriseam","tag-financial-markets","tag-gb-auto","tag-oriental-weavers","tag-planet-finance","tag-sodic","wpautop","entry"],"acf":{"mongo_id":"3cc88d31-6598-49b3-9dba-e2bd5a65638a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567589],"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 1 December 2020 - 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\/2020\/12\/01\/what-the-markets-are-doing-on-1-december-2020\/\" \/>\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 1 December 2020\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell 0.6% yesterday on turnover of EGP 1.8 bn (29.3% above the 90-day average) as foreign investors were net sellers. 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Foreign investors were net buyers. The index is up 21.6% YTD. In the green: Oriental Weavers (+3.8%), GB Corp (+2.4%) and TMG Holding (+1.4%). In the red: Heliopolis Housing (-3.3%), Eastern Company\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557896,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/09\/the-markets-on-9-september\/","url_meta":{"origin":567620,"position":1},"title":"The Markets on 9 September","author":"enterpriseam admin","date":"9 September 2021","format":false,"excerpt":"The EGX30 fell 0.7% at today\u2019s close on turnover of EGP 1.20 bn (21.6% below the 90-day average). Local investors were net sellers. The index is up 2.0% YTD.In the green: Eatern Company (+6.8%), Rameda (+3.5%), and Oriental Weavers (+2.3%).In the red: Raya Holding (-6.8%), GB Auto (-4.4%), and Egyptian\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":581024,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/what-the-markets-are-doing-on-1-february-2023\/","url_meta":{"origin":567620,"position":2},"title":"What the markets are doing on 1 February, 2023","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"The EGX30 fell 0.2% at today\u2019s close on turnover of EGP 1.73 bn (3.2% below the 90-day average). Foreign investors were net sellers. The index is up 12.4% YTD.In the green: Oriental Weavers (+5.5%), CIRA Education (+2.3%) and Juhayna (+1.4%).In the red: Talaat Moustafa Holding (-4.8%), GB Auto (-4.3%) and\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553048,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/what-the-markets-are-doing-on-17-october-2022\/","url_meta":{"origin":567620,"position":3},"title":"What the markets are doing on 17 October, 2022","author":"enterpriseam admin","date":"17 October 2022","format":false,"excerpt":"The EGX30 rose 1.0% at today\u2019s close on turnover of EGP 1.33 bn (26.4% above the 90-day average). Local investors were net buyers. The index is down 15.1% YTD.In the green: Telecom Egypt (+6.1%), e-Finance (+5.5%) and GB Auto (+4.6%).In the red: CIB (-1.0%), CIRA (-0.8%) and Oriental Weavers (-0.7%).","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554260,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/what-the-markets-are-doing-on-27-december-2021\/","url_meta":{"origin":567620,"position":4},"title":"What the markets are doing on 27 December 2021","author":"enterpriseam admin","date":"27 December 2021","format":false,"excerpt":"THE CLOSING BELL-The EGX30 rose 0.9% yesterday on turnover of EGP 1.14 bn (15.2% below the 90-day average). Foreign investors were net sellers. The index is up 9.3% YTD.In the green: Egyptian Company for Tourism Resorts (+4.2%), CIRA (+3.9%) and Orascom Development Egypt (+3.5%).In the red: Oriental Weavers (-3.2%), Egypt\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":552048,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/what-the-markets-are-doing-on-8-august-2022\/","url_meta":{"origin":567620,"position":5},"title":"What the markets are doing on 8 August, 2022","author":"enterpriseam admin","date":"8 August 2022","format":false,"excerpt":"The EGX30 fell 0.8% at today\u2019s close on turnover of EGP 1.7 bn (52.1% above the 90-day average). Local investors were net buyers. The index is down 15.9% YTD.In the green: Oriental Weavers (+4.9%), Alexandria Containers and Goods (+4.0%) and Eastern Company (+2.5%).In the red: Ibnsina Pharma (-4.9%), CIRA (-4.8%)\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"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\/567620","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=567620"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567620\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567589"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567620"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567620"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}