{"id":577991,"date":"2022-12-12T04:00:42","date_gmt":"2022-12-12T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco\/"},"modified":"2022-12-12T04:00:42","modified_gmt":"2022-12-12T04:00:42","slug":"global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco\/","title":{"rendered":"Global stocks to recover in 2023? + Crypto exchanges suffer record outflows following FTX fiasco"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Money managers see a recovery for global stocks next year after a harsh 2022: <\/strong>Some 71% of respondents in a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-10\/world-s-top-money-managers-see-global-stocks-recovering-in-2023?srnd=premium-middle-east\">Bloomberg survey<\/a> of 134 major fund managers expect global equities to rise next year compared to 19% forecasting declines, amid signs inflation may have peaked and central banks could begin to ease rate hikes in the new year. That said, those expecting equities to rebound expect a gain of 10% on average next year. That\u2019s an average result for the MSCI global index, but lower than post-crash rebounds of over 30% in 2009 and more than 20% in 2019.<\/p>\n<p><strong>Gains are likely to be concentrated in the second half of the year<\/strong>, with investors sticking to more reliable value stocks including in the ins. and healthcare sectors. More than half of those surveyed said they would look to invest in tech stocks in a bid to capitalize on low valuations following this year\u2019s crash.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Luberef on course to raise USD 1.3 bn after pricing IPO at top of range:<\/strong> Saudi Aramco\u2019s refining subsidiary Luberef is poised to raise SAR 4.95 bn (USD 1.32 bn) from its IPO after setting a final price of SAR 99 per share, the top of the price range, the company said in <a href=\"https:\/\/ent.news\/2022\/12\/Luberef-Tadawul.pdf\">a statement (pdf)<\/a> yesterday. The institutional offering was 29.5x oversubscribed, generating an order book of SAR 146.4 bn. Saudi private equity firm Jadwa Investment sold 50 mn shares, or a 30% stake in the offering, while Saudi oil giant Aramco maintained its 70% stake. The IPO is managed by SNB Capital, Morgan Stanley, HSBC Holdings and Citigroup. Retail subscription for the IPO will run from 14-18 December.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The crypto exodus continues: <\/strong>Major crypto exchanges saw record withdrawals of BTC in November in the wake of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8b7247f-291f-4a03-bc21-22df3184cb3d\">collapse of FTX<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/168f2074-716c-48ef-8564-cdf740d23e4b\">Financial Times<\/a> reports. Investors pulled more than 91.3k BTC worth around USD 1.5 bn from exchanges such as Binance, Coinbase and Kraken during the month, the largest-ever monthly outflow from the cryptocurrency, according to industry site <a href=\"https:\/\/www.cryptocompare.com\/\">Crypto Compare<\/a>. The sudden collapse of FTX \u2014 once the second-largest crypto exchange in the world \u2014 in November sent shockwaves through the industry, raising fears of contagion that could result in a string of bankruptcies.<\/p>\n<p><strong>Crypto bubble burst:<\/strong> Tightening financial conditions this year have let much of the air out of the pandemic-era crypto boom, prompting the collapse of a string of major players such as Celsius, Terra, and Voyager. Tns of USD of market value has been erased from the global crypto market this year, with the most popular currency BTC plunging almost 63% YTD.<\/p>\n<p><strong>Goldman is preparing to swoop: <\/strong>Goldman Sachs plans to invest tens of mns of USD on crypto firms at cut-price valuations, as it wagers that a regulatory push will make the industry viable in the long term, according to <a href=\"https:\/\/www.reuters.com\/technology\/goldman-sachs-hunt-bargain-crypto-firms-after-ftx-fiasco-2022-12-06\/\">Reuters<\/a>.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<thead>\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>14,588<\/p>\n<\/td>\n<td>\n<p>-1.7% (YTD: +22.1%)<\/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 24.59<\/p>\n<\/td>\n<td>\n<p>Sell 24.66<\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody> <\/tbody>\n<tbody>\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 24.58<\/p>\n<\/td>\n<td>\n<p>Sell 24.64<\/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>13.25% deposit<\/p>\n<\/td>\n<td>\n<p>14.25% 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>10,138<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: -10.1%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,252<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +20.8%)<\/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>3,325<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +4.0%)<\/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>3,934<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -17.5%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,477<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +1.3%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,943<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: -8.3%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 76.10<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.25<\/p>\n<\/td>\n<td>\n<p>+4.8%<\/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 1,810.70<\/p>\n<\/td>\n<td>\n<p>+0.5%<\/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 17,112<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -62.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 fell 1.7% at yesterday\u2019s close<\/strong> on turnover of EGP 2.49 bn. Foreign investors were net sellers. The index is up 22.1% YTD.<\/p>\n<p><strong>In the green: <\/strong>Sidi Kerir Petrochemicals (+6.1%), Qalaa Holdings (+4.4%) and GB Auto (+2.4%).<\/p>\n<p><strong>In the red: <\/strong>Telecom Egypt (-6.8%), Elsewedy Electric (-4.6%) and CIRA Education (-4.2%).<\/p>\n<p><strong>It\u2019s a sea of red in Asia this morning<\/strong> as traders await tomorrow\u2019s US inflation figures and the Federal Reserve meeting on Wednesday. US and European shares are also sliding in the futures markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Money managers see a recovery for global stocks next year after a harsh 2022: Some 71% of respondents in a Bloomberg survey of 134 major fund managers expect global equities to rise next year compared to 19% forecasting declines, amid signs inflation may have peaked and central banks could begin to ease rate hikes in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":577992,"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":[344,72,164,119,6368,78,1621,122,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-cryptocurrency","tag-enterpriseam","tag-equities","tag-financial-markets","tag-ftx","tag-ipo-watch","tag-luberef","tag-planet-finance","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"6853ab4e-12f3-4fa9-9d86-b6e0d042d2cf","is_powered_by":true,"section_story_id":"e837bd15-b8ec-4cef-8652-a3ade7f4c0d2","story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/232.jpg","photo_position":"above","related_issue":[577967],"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>Global stocks to recover in 2023? 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+ Crypto exchanges suffer record outflows following FTX fiasco - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco\/","og_locale":"en_US","og_type":"article","og_title":"Global stocks to recover in 2023? + Crypto exchanges suffer record outflows following FTX fiasco","og_description":"Money managers see a recovery for global stocks next year after a harsh 2022: Some 71% of respondents in a Bloomberg survey of 134 major fund managers expect global equities to rise next year compared to 19% forecasting declines, amid signs inflation may have peaked and central banks could begin to ease rate hikes in [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-12-12T04:00:42+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/232.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/global-stocks-to-recover-in-2023-crypto-exchanges-suffer-record-outflows-following-ftx-fiasco\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Global stocks to recover in 2023? 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Expect to see a tighter market as \u201cRussian supply slows under the full impact of sanctions [while] China will drive\u2026\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\/2023\/1\/336.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544962,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/em-bonds-on-course-for-their-worst-quarter-in-24-years-uae-positioning-itself-as-a-global-crypto-hub\/","url_meta":{"origin":577991,"position":3},"title":"EM bonds on course for their worst quarter in 24 years + UAE positioning itself as a global crypto hub","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"It hasn\u2019t been like this in 24 years: USD-denominated emerging bonds are on course to have their worst quarter since the Asian financial crisis shook emerging markets in 1998, according to Bloomberg.What gives? Already under pressure from rising interest rates, the commodity price shock sparked by the conflict in Ukraine\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":547568,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/27\/forever-inflation-would-be-worse-than-recession-says-central-banks-bank-value-stocks-are-outperforming-equities-but-both-are-down-ytd\/","url_meta":{"origin":577991,"position":4},"title":"Forever-inflation would be worse than recession, says central banks\u2019 bank + Value stocks are outperforming equities \u2014 but both are down YTD","author":"enterpriseam admin","date":"27 June 2022","format":false,"excerpt":"What\u2019s worse than a recession? 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