{"id":567831,"date":"2020-12-08T04:02:40","date_gmt":"2020-12-08T04:02:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/08\/what-the-markets-are-doing-on-8-december-2020\/"},"modified":"2020-12-08T04:02:40","modified_gmt":"2020-12-08T04:02:40","slug":"what-the-markets-are-doing-on-8-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/08\/what-the-markets-are-doing-on-8-december-2020\/","title":{"rendered":"What the markets are doing on 8 December 2020"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>The EGX30 fell 0.3% yesterday<\/strong> on turnover of EGP 1.8 bn (27.1% above the 90-day average). Regional investors were net sellers. The index is down 21.3% YTD.<\/p>\n<p><strong>In the green: <\/strong>Egyptian Iron & Steel (+5.9%), Dice (+5.1%) and Orascom Development Egypt (+2.3%).<\/p>\n<p><strong>In the red: <\/strong>Juhayna (-5.1%), Emaar Misr (-2.3%) and Egypt Kuwait Holding (-2.2%).<\/p>\n<p><strong>Asian markets <\/strong><strong>in the red so far this morning <\/strong>and futures suggest Wall Street and most European markets will follow suit later today.<\/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>10,995<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -21.3%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/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 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/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>8,633<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +2.9%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,042<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -0.7%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,483<\/p>\n<\/td>\n<td>\n<p>-% (YTD: -10.2%)<\/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>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,692<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +14.3%)<\/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>6,555<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: -13.1%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 48.79<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.45<\/p>\n<\/td>\n<td>\n<p>+1.87%<\/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 1,867.70<\/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 19,220.03<\/p>\n<\/td>\n<td>\n<p>-0.5%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>IPO WATCH- It\u2019s a big week for IPOs in the US of A<\/strong>, as Airbnb and DoorDash look to break December records by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-07\/airbnb-doordash-boost-price-ranges-ahead-of-mega-week-for-ipos?srnd=premium&sref=mmeFTDW1\">raising a combined USD 6.2 bn<\/a> when they make their trading debuts:<\/p>\n<ul>\n<li><strong>Airbnb will raise<\/strong><strong> its price range to USD 56-60 from USD 44-50<\/strong>, upping its valuation to USD 42 bn, <a href=\"https:\/\/www.wsj.com\/articles\/airbnb-boosts-ipo-price-range-to-between-56-and-60-a-share-11607302117?mod=hp_lead_pos1\">the Wall Street Journal<\/a> reports. The company IPOs on the Nasdaq today and begins trading tomorrow.<\/li>\n<li><strong>DoorDash has done likewise<\/strong>, increasing its price range to USD 90-95 from USD 75-85, valuing the company at more than USD 35 bn, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-04\/startup-doordash-boosts-ipo-fundraising-target-to-3-1-billion?sref=mmeFTDW1\">Bloomberg<\/a>. <a href=\"https:\/\/www.marketwatch.com\/story\/heres-why-doordash-is-the-most-ridiculous-ipo-of-2020-11606959747\">MarketWatch<\/a> is calling DoorDash \u201cthe most ridiculous IPO of 2020,\u201d claiming that bankers are rushing the listing of the \u201cterrible business\u201d before the end of the pandemic kills demand for food delivery.<\/li>\n<\/ul>\n<p><strong>Dubai\u2019s perma property slump is hitting Emaar<\/strong>, which is temporarily putting a lid on new developments in the city, according to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-07\/dubai-s-largest-developer-halts-new-projects-as-glut-hits-values?sref=mmeFTDW1\">Bloomberg<\/a> report quoting Mohamed Alabbar, chairman of the real estate giant. The combination of a long-term supply glut and the covid-19 pandemic has seen property prices fall by almost a third in the past six years.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>An activist investor is getting in Exxon\u2019s face over its shoddy climate record:<\/strong> Engine No. 1, a small investment firm which appeared on the scene only a week ago, is sending a letter to the US oil giant urging it to pivot to clean energy and hopes larger shareholders \u2014 such as BlackRock and State Street which own 20% of Exxon \u2014 will be sympathetic to the cause, according to <a href=\"https:\/\/www.wsj.com\/articles\/exxon-under-pressure-from-new-activist-fund-11607310000?mod=hp_lead_pos6\">the Wall Street Journal<\/a>.<\/li>\n<li><strong>The digital yuan has its first online retailer:<\/strong> China\u2019s largest retailer JD.com has become the first company to begin accepting the digital yuan the government continues to trial its new national digital currency, according to <a href=\"https:\/\/www.cnbc.com\/2020\/12\/07\/china-hands-out-digital-yuan-in-trial-as-jdcom-accepts-the-currency.html\">CNBC<\/a>.<\/li>\n<li><strong>French giant Soci\u00e9t\u00e9 G\u00e9n\u00e9rale is one bank that is already cutting back on costs<\/strong>, announcing that it will close 600 branches in France and slash EUR 450 mn from its budget, <a href=\"https:\/\/www.ft.com\/content\/9b400dfd-1506-4d00-8007-3e9dddca64bf\">the Financial Times<\/a> reports.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The EGX30 fell 0.3% yesterday on turnover of EGP 1.8 bn (27.1% above the 90-day average). Regional investors were net sellers. The index is down 21.3% YTD. In the green: Egyptian Iron &#038; Steel (+5.9%), Dice (+5.1%) and Orascom Development Egypt (+2.3%). In the red: Juhayna (-5.1%), Emaar Misr (-2.3%) and Egypt Kuwait Holding (-2.2%). [&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":[1225,204,116,4282,1276,344,4279,518,3732,72,119,4283,4281,4280,122,2436],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567831","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-airbnb","tag-banking","tag-china","tag-chinese-central-bank","tag-cisco","tag-cryptocurrency","tag-dbs","tag-digital-currency","tag-digital-yuan","tag-enterpriseam","tag-financial-markets","tag-imimobile","tag-jd-com","tag-piyush-gupta","tag-planet-finance","tag-singapore","wpautop","entry"],"acf":{"mongo_id":"3ad5eca7-5565-4480-a79e-0e6072a05c57","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567806],"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 8 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\/08\/what-the-markets-are-doing-on-8-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 8 December 2020\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell 0.3% yesterday on turnover of EGP 1.8 bn (27.1% above the 90-day average). Regional investors were net sellers. The index is down 21.3% YTD. In the green: Egyptian Iron &amp; Steel (+5.9%), Dice (+5.1%) and Orascom Development Egypt (+2.3%). In the red: Juhayna (-5.1%), Emaar Misr (-2.3%) and Egypt Kuwait Holding (-2.2%). 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Regional investors were net sellers. The index is down 21.3% YTD. In the green: Egyptian Iron & Steel (+5.9%), Dice (+5.1%) and Orascom Development Egypt (+2.3%). In the red: Juhayna (-5.1%), Emaar Misr (-2.3%) and Egypt Kuwait Holding (-2.2%). 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Foreign investors were net sellers. The index is up 21.3% YTD. In the green: Mopco (+1.6%), CIRA Education (+0.6%) and Elsewedy Electric (+0.5%). In the red: Credit Agricole (-2.3%), Alexandria Container 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":567953,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/what-the-markets-are-doing-on-13-december-2020\/","url_meta":{"origin":567831,"position":1},"title":"What the markets are doing on 13 December 2020","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"The EGX30 fell 0.3% on Thursday on turnover of EGP 1.4 bn (4% above the 90-day average). Foreign investors were net sellers. The index is down -21.3% YTD.In the green: Eastern Company (+3.4%), Edita (+2.1%) and Credit Agricole (+1%).In the red: Dice (-6.6%), Heliopolis Housing (-4.8%) and Juhayna (-3%). EGX30\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":560166,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/what-the-markets-are-doing-on-17-february-2021\/","url_meta":{"origin":567831,"position":2},"title":"What the markets are doing on 17 February 2021","author":"enterpriseam admin","date":"17 February 2021","format":false,"excerpt":"Musk probably isn\u2019t going to be tweeting about copper any time soon: Some of the world\u2019s largest miners are getting ready to pay out bumper dividends as the sector enjoys what the Financial Times is calling a \u201cblistering run\u201d in commodities prices. The price of iron ore has surged almost\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":562543,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/27\/msci-em-currency-index-soars\/","url_meta":{"origin":567831,"position":3},"title":"MSCI EM currency index soars","author":"enterpriseam admin","date":"27 May 2021","format":false,"excerpt":"MSCI\u2019s emerging market currency index soared to a new record high yesterday as investors turned to EMs following the US Federal Reserve\u2019s announcement of its plans to keep interest rates low and maintain its stimulus program, despite inflationary pressures, Reutersreports. The USD dropped to its lowest level since January, while\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":567791,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/07\/what-the-markets-are-doing-on-7-december-2020\/","url_meta":{"origin":567831,"position":4},"title":"What the markets are doing on 7 December 2020","author":"enterpriseam admin","date":"7 December 2020","format":false,"excerpt":"The EGX30 rose 0.1% yesterday on turnover of EGP 1.6 bn (18.5% above the 90-day average). Domestic investors were net sellers. The index is down 21.0% YTD.In the green: Dice (+6.2%), Orascom Investment Holding (+4.5%) and Beltone Financial Holding (+4.1%).In the red: Sodic (-2.3%), Juhayna (-2.3%) and Edita (-2.2%).Asian markets\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":561995,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/what-the-markets-are-doing-on-28-april-2021\/","url_meta":{"origin":567831,"position":5},"title":"What the markets are doing on 28 April 2021","author":"enterpriseam admin","date":"28 April 2021","format":false,"excerpt":"Yesterday was a huge day for tech earnings: Google parent Alphabet smashed sales records in 1Q thanks to a splurge in digital ad spending, the Financial Times reports. Revenues hit a record USD 55.3 bn during the three-month period, causing net profit to surge 162% to USD 17.9 bn, blowing\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\/567831","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=567831"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567831\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567806"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567831"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567831"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}