{"id":568114,"date":"2020-12-17T04:13:48","date_gmt":"2020-12-17T04:13:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/17\/what-the-markets-are-doing-on-17-december-2020\/"},"modified":"2020-12-17T04:13:48","modified_gmt":"2020-12-17T04:13:48","slug":"what-the-markets-are-doing-on-17-december-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/17\/what-the-markets-are-doing-on-17-december-2020\/","title":{"rendered":"What the markets are doing on 17 December 2020"},"content":{"rendered":"

<\/a> The EGX30 fell 0.7% yesterday<\/strong> on turnover of EGP 1.5 bn (9.5% above the 90-day average). Foreign investors were net sellers. The index is down 21.3% YTD.<\/p>\n

In the green: <\/strong>Sidi Kerir Petrochemicals (+1.8%), Ezz Steel (+1.3%) and EFG Hermes (+0.4%).<\/p>\n

In the red: <\/strong>Beltone Financial Holding (-3.9%), GB Auto (-3.7%) and Egyptian Iron and Steel (-3.1%).<\/p>\n

Asian shares are mixed this morning<\/strong>, but futures suggest Europe and Wall Street will all open in the green later today.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Down<\/p>\n<\/td>\n

\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,983<\/p>\n<\/td>\n

\n

-0.7% (YTD: -21.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

Down<\/p>\n<\/td>\n

\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.65<\/p>\n<\/td>\n

\n

Sell 15.75<\/p>\n<\/td>\n<\/tr>\n

\n

Down<\/p>\n<\/td>\n

\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.64<\/p>\n<\/td>\n

\n

Sell 15.74<\/p>\n<\/td>\n<\/tr>\n

\n

None<\/p>\n<\/td>\n

\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

8,721<\/p>\n<\/td>\n

\n

+0.7% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

ADX<\/strong><\/p>\n<\/td>\n

\n

5,154<\/p>\n<\/td>\n

\n

+0.4% (YTD: +1.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

DFM<\/strong><\/p>\n<\/td>\n

\n

2,541<\/p>\n<\/td>\n

\n

+0.4% (YTD: -8.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

3,701<\/p>\n<\/td>\n

\n

+0.2% (YTD: +14.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

6,571<\/p>\n<\/td>\n

\n

+0.9% (YTD: -12.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 51.18<\/p>\n<\/td>\n

\n

+0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 2.71<\/p>\n<\/td>\n

\n

+1.3%<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,867.90<\/p>\n<\/td>\n

\n

+0.5%<\/p>\n<\/td>\n<\/tr>\n

\n

Up<\/p>\n<\/td>\n

\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 21,431.87<\/p>\n<\/td>\n

\n

+10.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The US Federal Reserve vowed to keep buying bonds until it sees a \u201csubstantial\u201d<\/strong> progress on the economy <\/strong>as it wrapped its two-day FOMC meeting yesterday. Fed officials \u201cupgraded their economic projections but maintained predictions that they would keep rates close to zero until at least the end of 2023,\u201d the Financial Times<\/a> reports. Reuters<\/a> also has the story. Meanwhile, the Fed has also joined the fight against climate change<\/a>. <\/strong><\/p>\n

Saudi Arabia is pouring hundreds of bns of SAR into local investments through its <\/strong>wealth funds to narrow its budget deficit as of next year<\/strong>, after its economy was battered this year by low oil prices, Bloomberg<\/a> reports. Cushioned by revenues that will reach SAR 849 bn in 2021, the kingdom\u2019s budget will remain \u201cexpansionary\u201d for the coming period even as government spending is slashed, Saudi Finance Minister Mohammed Al-Jadaan said.<\/p>\n

Low oil<\/strong> demand will likely stick around for a little while longer<\/strong>, despite a rebound in oil prices earlier this week<\/a> that reached USD 50\/bbl due to excitement from the rollout of vaccines and a swift recovery in China, according to the International Energy Agency\u2019s (IEA) December Oil Market Report. Driven by reductions in demand from Europe and OECD countries in 4Q2020 as they reel from renewed lockdown measures and weak demand for air travel, the group says it will be another \u201cseveral months\u201d before enough people are vaccinated for a rebound in consumption to really take hold. You can view the landing page for the report here<\/a>.<\/p>\n

The Eurozone\u2019s economic performance exceeded expectations in December<\/strong>, with the bloc\u2019s flash PMI data (pdf)<\/a>, but remains below the 50 mark that separates growth from contraction. Pundits<\/a> had expected the reading to come in much lower as covid-19 surges in Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EGX30 fell 0.7% yesterday on turnover of EGP 1.5 bn (9.5% above the 90-day average). Foreign investors were net sellers. The index is down 21.3% YTD. In the green: Sidi Kerir Petrochemicals (+1.8%), Ezz Steel (+1.3%) and EFG Hermes (+0.4%). In the red: Beltone Financial Holding (-3.9%), GB Auto (-3.7%) and Egyptian Iron and […]<\/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":[72,2108,119,91,122,439,639,2883],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568114","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-enterpriseam","tag-etfs","tag-financial-markets","tag-oil-and-gas","tag-planet-finance","tag-spacs","tag-technology","tag-vanguard","wpautop","entry"],"acf":{"mongo_id":"9fdd30b7-fad2-415f-87e6-21aabfaf0746","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[568090],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 17 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\/17\/what-the-markets-are-doing-on-17-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 17 December 2020\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell 0.7% yesterday on turnover of EGP 1.5 bn (9.5% above the 90-day average). 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The index is down 23.1% YTD.In the green: Ezz Steel (+5.9%), GB Auto (+5.1%) and Sidi Kerir Petrochemicals (+5.0%).In the red: Dice (-2.5%), Orascom Investment Holding (-0.7%) and Sodic (-0.5%).Globally, it\u2019s a mixed bag\u2026","rel":"","context":"In "PLANET FINANCE"","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":562072,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/what-the-markets-are-doing-on-5-may-2021\/","url_meta":{"origin":568114,"position":1},"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 "PLANET FINANCE"","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":568421,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/29\/what-the-markets-are-doing-on-29-december-2020\/","url_meta":{"origin":568114,"position":2},"title":"What the markets are doing on 29 December 2020","author":"enterpriseam admin","date":"29 December 2020","format":false,"excerpt":"The EGX30 rose 0.7% yesterday on turnover of EGP 979 mn (27.5% below the 90-day average). Foreign investors were net sellers. The index is down 23.7% YTD.In the green: Sidi Kerir Petrochemicals (+5.5%), Ezz Steel (+4.0%) and Egyptian Iron & Steel (+3.2%).In the red: Sodic (-0.7%), Export Development Bank (-0.2%)\u2026","rel":"","context":"In "PLANET FINANCE"","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":567831,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/08\/what-the-markets-are-doing-on-8-december-2020\/","url_meta":{"origin":568114,"position":3},"title":"What the markets are doing on 8 December 2020","author":"enterpriseam admin","date":"8 December 2020","format":false,"excerpt":"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 & 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 "PLANET FINANCE"","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":577904,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/what-the-markets-are-doing-on-thursday-8-december\/","url_meta":{"origin":568114,"position":4},"title":"What the markets are doing on Thursday, 8 December","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"THE CLOSING BELL- The EGX30 rose 2.0% at yesterday\u2019s close on turnover of EGP 3.2 bn. Foreign investors were net sellers. The index is up 23.8% YTD. In the green: EFG Hermes (+6.8%), Talaat Moustafa Holding (+6.1%) and Qalaa Holding (+5.9%). In the red: Rameda Pharma (-4.8%), Egypt Kuwait Holding-EGP\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562151,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/planet-finance-rising-commodity-prices-are-good-news-for-em\/","url_meta":{"origin":568114,"position":5},"title":"Planet Finance: Rising commodity prices are good news for EM","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"SUPERCYCLE WATCH- Copper prices are at all-time highs off of optimism over an economic rebound that has fueled talk of a commodities supercycle amid soaring raw material prices, Bloomberg reports. The surge in prices is raising the prospect of imminent inflation \u2014 despite some analysts suggesting it will be transitory\u2026","rel":"","context":"In "PLANET FINANCE"","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\/568114","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=568114"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568114\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568090"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568114"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568114"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}