{"id":567661,"date":"2020-12-02T04:04:26","date_gmt":"2020-12-02T04:04:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/"},"modified":"2020-12-02T04:04:26","modified_gmt":"2020-12-02T04:04:26","slug":"what-the-markets-are-doing-on-2-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/","title":{"rendered":"What the markets are doing on 2 December 2020"},"content":{"rendered":"<p><a id=\"tldr-story-09\" class=\"content-anchor\"><\/a><strong> The EGX30 rose 0.9% yesterday<\/strong> on turnover of EGP 1.7 bn (25.6% above the 90-day average). Regional investors were net buyers. The index is down -20.9% YTD.<\/p>\n<p><strong>In the green: <\/strong>Emaar Misr (+5.2%), Egyptian Iron & Steel (+3.4%) and Eastern Company (+2.5%).<\/p>\n<p><strong>In the red: <\/strong>Orascom Development (-3.6%), Heliopolis Housing (-1.6%) and Juhayna (-1.4%).<\/p>\n<p><strong>Asian markets are mixed in early trading this morning<\/strong> and futures suggest both Europe and Wall Street could start the day in the red.<\/p>\n<table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\"  \/><\/td>\n<td><strong>EGX30 <\/strong><\/td>\n<td>11,041<\/td>\n<td>+0.9% (YTD: -20.9%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\"  \/><\/td>\n<td><strong>USD (CBE)<\/strong><\/td>\n<td>Buy 15.60<\/td>\n<td>Sell 15.70<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\"  \/><\/td>\n<td><strong>USD at CIB<\/strong><\/td>\n<td>Buy 15.61<\/td>\n<td>Sell 15.71<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\"  \/><\/td>\n<td><strong>Interest rates CBE<\/strong><\/td>\n<td>8.25% deposit<\/td>\n<td>9.25% lending<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\"  \/><\/td>\n<td><strong>Tadawul<\/strong><\/td>\n<td>8,722<\/td>\n<td>-0.29% (YTD: +3.97%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\"  \/><\/td>\n<td><strong>ADX<\/strong><\/td>\n<td>4,964<\/td>\n<td>-0.42% (YTD: -2.18%)<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\"  \/><\/td>\n<td><strong>DFM<\/strong><\/td>\n<td>2,419<\/td>\n<td>+0.82% (YTD: -12.49%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\"  \/><\/td>\n<td><strong>S&P 500<\/strong><\/td>\n<td>3,662<\/td>\n<td>+1.13% (YTD: +13.36%)<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\"  \/><\/td>\n<td><strong>FTSE 100<\/strong><\/td>\n<td>6,384<\/td>\n<td>+1.84% (YTD: -15.35%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\"  \/><\/td>\n<td><strong>Brent crude<\/strong><\/td>\n<td>USD 47.35<\/td>\n<td>-1.11%<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\"  \/><\/td>\n<td><strong>Natural gas <\/strong>(Nymex)<\/td>\n<td>USD 2.88<\/td>\n<td>+0.03%<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\"  \/><\/td>\n<td><strong>Gold<\/strong><\/td>\n<td>USD 1,818.60<\/td>\n<td>+2.12%<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\"  \/><\/td>\n<td><strong>BTC<\/strong><\/td>\n<td>USD 19,072<\/td>\n<td>-2.09%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>IPO WATCH- Airbnb is eyeing a c. USD 35 bn valuation when it lists on the<\/strong><strong> Nasdaq on 10 December<\/strong>, in what <a href=\"https:\/\/www.reuters.com\/article\/us-airbnb-ipo\/airbnb-aims-for-up-to-35-billion-valuation-in-long-awaited-ipo-idUSKBN28B5CC\">Reuters<\/a> is calling a \u201cstunning recovery\u201d for a company battered by the outbreak of the pandemic earlier this year.<\/p>\n<p><strong>Th<\/strong><strong>e US won\u2019t be jettisoning the \u201cworld\u2019s important number\u201d until 2023.<\/strong> US banks will continue to use <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ec99e99-36e9-44b0-9b40-dc68b2d0c1c8\">the Libor rate<\/a> until mid-2023, giving the country an extra 18 months to transition from the discredited benchmark, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-fed-libor\/key-dollar-libor-rates-get-18-month-stay-of-execution-idUSKBN28A1ZL\">Reuters<\/a> reports. The rest of the world will cease to use the interest rate \u2014 the benchmark for some USD 350 tn in debt \u2014 at the end of 2021 following revelations in 2012 that some of the world\u2019s largest banks had <a href=\"https:\/\/www.cfr.org\/backgrounder\/understanding-libor-scandal\">colluded to rig the rate<\/a> for almost a decade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGX30 rose 0.9% yesterday on turnover of EGP 1.7 bn (25.6% above the 90-day average). Regional investors were net buyers. The index is down -20.9% YTD. In the green: Emaar Misr (+5.2%), Egyptian Iron &#038; Steel (+3.4%) and Eastern Company (+2.5%). In the red: Orascom Development (-3.6%), Heliopolis Housing (-1.6%) and Juhayna (-1.4%). 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":[72,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567661","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"f7922101-2ec2-473c-8391-fb45d708d3e7","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567636],"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 2 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\/02\/what-the-markets-are-doing-on-2-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 2 December 2020\" \/>\n<meta property=\"og:description\" content=\"The EGX30 rose 0.9% yesterday on turnover of EGP 1.7 bn (25.6% above the 90-day average). 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Foreign investors were net sellers. The index is down 20.9% YTD.In the green: Ibnsina Pharma (+6.0%), Ezz Steel (+5.9%) and Eastern Company (+0.9%).In the red: Dice (-6.8%), Cleopatra Hospital (-2.9%) and Oriental Weavers (-2.4%).Asian markets are all in the\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":568382,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/what-the-markets-are-doing-on-27-december-2020-2\/","url_meta":{"origin":567661,"position":1},"title":"What the markets are doing on 27 December 2020","author":"enterpriseam admin","date":"28 December 2020","format":false,"excerpt":"The EGX30 fell 0.9% yesterday on turnover of EGP 808 mn (40.1% below the 90-day average). Foreign investors were net sellers. The index is down 24.2% YTD.In the green: Dice (+4.7%), Cleopatra Hospital (+4.0%) and Ezz Steel (+3.5%).In the red: Beltone Financial Holding (-3.2%), GB Auto (-3.1%) and Palm Hills\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":554260,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/what-the-markets-are-doing-on-27-december-2021\/","url_meta":{"origin":567661,"position":2},"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":567748,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/what-the-markets-are-doing-on-6-december-2020\/","url_meta":{"origin":567661,"position":3},"title":"What the markets are doing on 6 December 2020","author":"enterpriseam admin","date":"6 December 2020","format":false,"excerpt":"The EGX30 fell 0.1% on Thursday on turnover of EGP 1.4 bn (7% above the 90-day average). Foreign investors were net sellers. The index is down 21.1% YTD.In the green: Export Development Bank of Egypt (+6.0%), Oriental Weavers (+3.5%) and Juhayna (+2.0%).In the red: Emaar Misr (-2.6%), Ezz Steel (-1.3%)\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":561557,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/what-the-markets-are-doing-on-12-april-2021\/","url_meta":{"origin":567661,"position":4},"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 &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":586302,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/09\/credit-crunch-could-slow-us-growth-fed-warns\/","url_meta":{"origin":567661,"position":5},"title":"Credit crunch could slow US growth, Fed warns","author":"enterpriseam admin","date":"9 May 2023","format":false,"excerpt":"The recent banking crisis has increased concern about bank balance sheets","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\/5\/485.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567661","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=567661"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567661\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567636"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567661"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567661"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}