{"id":567953,"date":"2020-12-13T03:57:35","date_gmt":"2020-12-13T03:57:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/what-the-markets-are-doing-on-13-december-2020\/"},"modified":"2020-12-13T03:57:35","modified_gmt":"2020-12-13T03:57:35","slug":"what-the-markets-are-doing-on-13-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/what-the-markets-are-doing-on-13-december-2020\/","title":{"rendered":"What the markets are doing on 13 December 2020"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>The EGX30 fell 0.3% on Thursday<\/strong> 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.<\/p>\n<p><strong>In the green: <\/strong>Eastern Company (+3.4%), Edita (+2.1%) and Credit Agricole (+1%).<\/p>\n<p><strong>In the red: <\/strong>Dice (-6.6%), Heliopolis Housing (-4.8%) and Juhayna (-3%).<\/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>10,987<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -21.3%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/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>8,644<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: 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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,109<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: 0.6%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,547<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -7.9%)<\/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>3,663<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: 13.4%)<\/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>6,547<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -13.2%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 49.97<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.59<\/p>\n<\/td>\n<td>\n<p>+1.5%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,843.60<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 18,452<\/p>\n<\/td>\n<td>\n<p>+3.6%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>SIGN OF THE TIMES- Are investors finally seeing EMs as more than different <\/strong><strong>shades of beige and giving China its due props? <\/strong>Some of the biggest asset managers appear to be shifting their strategies to give China the respect due to the second-largest economy in the world, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-09\/china-outgrows-emerging-market-strategies-for-biggest-investors?sref=mmeFTDW1\">Bloomberg<\/a>. Amundi Asset Management (with AUM of USD 2 tn), and Robeco (with USD 190 bn AUM), are both rolling out new strategies focused on China amid a surge in demand from clients who had previously invested in the country through global developing-nation funds. Meanwhile, heavyweights such as BNY Mellon Investment Management and BlackRock are favoring splitting China off from EM, with the latter stating that they see China \u201cas a distinct pole of global growth.\u201d<\/p>\n<p><strong>Why now?<\/strong> China\u2019s rapid recovery from the covid-19 pandemic and \u201cincreasingly domestic-driven growth model\u201d have accentuated the differences between it and other emerging markets that came from its size, growth, and market depth. China\u2019s economy is expected to expand 8.2% in 2021 after outpacing other EM, while Chinese equities have seen an increase of USD 10.4 bn this year compared to an outflow of USD 23.9 bn from other EM and FM funds. The widespread economic impact from the pandemic is also driving investors towards specific countries and away from regional funds.<\/p>\n<p><strong>Covid has certainly been good to Jumia: <\/strong>After receiving a boost from lockdown measures and <a href=\"https:\/\/citronresearch.com\/category\/citron_reports\/page\/28\/\">short-sellers Citron eating humble pie<\/a>, Jumia is now laying down the groundwork for the next phase of its growth, which the company hopes will finally get it to into the green, Jumia Co-CEO Sacha Poignonnec<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-10\/jumia-looks-beyond-profit-target-with-plan-to-spin-off-logistics?sref=mmeFTDW1\">tells Bloomberg in an interview<\/a>. The plan <strong>might see the company spin off key logistics and payments divisions operating in 11 African countries, including Egypt<\/strong>, in a bid to cut down on costs, Poignonnec said. Simultaneously, the company is looking to expand to Ethiopia. The plans come after covid-19 measures helped the Pan-African e-commerce giant reduce 3Q2020 operating losses 49% y-o-y, and boosted its stock price by over 500% YtD.<\/p>\n<p><strong>Hyundai has purchased 80% of US robotics group Boston Dynamics in a USD 1.1<\/strong><strong> bn transaction<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/33d1afd6-9c2b-47a2-a09e-3e2a0713f8fe\">Financial Times<\/a> reports. Japanese multinational SoftBank, which had bought Boston Dynamics for USD 100 mn in 2017, will retain 20% of the company through a subsidiary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 10,987 -0.3% (YTD: [&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-567953","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"9c9a950b-eeb2-4cec-8b89-f7bb9b97c594","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567930],"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 13 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\/13\/what-the-markets-are-doing-on-13-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 13 December 2020\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell 0.3% on Thursday on turnover of EGP 1.4 bn (4% above the 90-day average). 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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\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":597016,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/what-the-markets-are-doing-on-10-august-2023\/","url_meta":{"origin":567953,"position":2},"title":"What the markets are doing on 10 August, 2023","author":"enterpriseam admin","date":"10 August 2023","format":false,"excerpt":"The EGX30 fell 0.3% at today\u2019s close on turnover of EGP 1.73 bn (13% below the 90-day average). 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":562072,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/what-the-markets-are-doing-on-5-may-2021\/","url_meta":{"origin":567953,"position":3},"title":"What the markets are doing on 5 May 2021","author":"enterpriseam admin","date":"5 May 2021","format":false,"excerpt":"SUPERCYCLE WATCH- It looks like the \u201cperfect storm\u201d for a commodities supercycle is here: Demand for agricultural commodities, industrial metals, and energy is booming as economic recoveries take hold in the US, Europe, and China, suggesting that the commodities supercycle everyone has been talking about is now kicking off, 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":589307,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/25\/us-bond-markets-convinced-recession-is-brewing\/","url_meta":{"origin":567953,"position":4},"title":"US bond markets convinced recession is brewing","author":"enterpriseam admin","date":"25 June 2023","format":false,"excerpt":"Inverted yield curve in treasuries is a telltale sign of an incoming downturn","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\/6\/1231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597678,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/global-oil-demand-hits-record-high-in-june-plus-threats-to-global-lng-supply-and-fresh-us-inflation-data\/","url_meta":{"origin":567953,"position":5},"title":"Global oil demand hits record high in June. PLUS: Threats to global LNG supply and fresh US inflation data.","author":"enterpriseam admin","date":"13 August 2023","format":false,"excerpt":"Oil prices have risen more than 10% since July as supply tightens and consumption in China grows","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\/8\/568.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\/567953","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=567953"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567953\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567930"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567953"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567953"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}