{"id":660904,"date":"2025-02-19T00:00:00","date_gmt":"2025-02-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/19\/the-sp-500-hits-fresh-high\/"},"modified":"2025-02-19T00:00:00","modified_gmt":"2025-02-19T00:00:00","slug":"the-sp-500-hits-fresh-high","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/19\/the-sp-500-hits-fresh-high\/","title":{"rendered":"The S&P 500 hits fresh high"},"content":{"rendered":"

Tuesday was a good day for global markets<\/strong>, with both the S&P 500 and the Euro Stoxx 600 closing at all-time highs following a turbulent few weeks triggered by US President Donald Trump introducing new tariffs. The benchmark S&P 500 closed up 0.2% at a record 6,130 and the Euro Stoxx 600 closed at 558. <\/p>\n

The rationale: <\/strong>\u201cI think people are still trying to digest everything going on with not only tariffs and how that could impact things but also general valuations \u2026 We feel like the market is pretty expensive,\u201d Villere & Co\u2019s Sandy Villere told Reuters<\/a>. <\/p>\n

Investors are keeping an eye out for: <\/strong>The Federal Reserve\u2019s next move. The odds of a rate cut took another hit after inflation came in hotter than expected in January<\/a>, with the consumer price index rising 3% y-o-y, the highest increase since June. <\/p>\n

\u201cYou've got not only the tariff situation, which I think is going to be more sabre-rattling and negotiating than anything long-term<\/strong>; the other thing is inflation that could be a little more stubborn than people think and I don't think the Fed can cut interest rates as fast as originally expected,\u201d Villere added.<\/p>\n

What about European markets? <\/strong>It wasn\u2019t just the pan-European index that hit a fresh record yesterday, German\u2019s benchmark index also hit a new record high after rising 0.2% \u2014 banking and defence stocks drove the rally, Reuters<\/a> writes, adding that investors are hopeful peace talks between Russia and Ukraine will likely increase military spending. <\/p>\n

MARKETS THIS MORNING- <\/p>\n

It\u2019s another morning with Asian markets mixed in early trading <\/strong>\u2014 Japan\u2019s Nikkei is down 0.4%, the Hang Seng is down 0.4%, meanwhile the Kospi is looking at gains of 1.8% and the Shanghai Composite is up 0.5%.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

30,588<\/p>\n<\/td>\n

\n

+0.5% (YTD: +2.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

Buy 50.59<\/p>\n<\/td>\n

\n

Sell 50.73<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

Buy 50.59<\/p>\n<\/td>\n

\n

Sell 50.69<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

12,334<\/p>\n<\/td>\n

\n

+0.6% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

9,619<\/p>\n<\/td>\n

\n

+0.7% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

5,375<\/p>\n<\/td>\n

\n

-0.2% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

6,130<\/p>\n<\/td>\n

\n

+0.2% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

8,767<\/p>\n<\/td>\n

\n

0.0% (YTD: +7.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

5,534<\/p>\n<\/td>\n

\n

+0.3% (YTD: +13.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

USD 75.82<\/p>\n<\/td>\n

\n

+0.8%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

USD 4.01<\/p>\n<\/td>\n

\n

+7.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

USD 2,955<\/p>\n<\/td>\n

\n

+1.9%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

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

\n

USD 94,942<\/p>\n<\/td>\n

\n

-1.6% (YTD: +1.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/p>\n

The EGX30 rose 0.5% at yesterday\u2019s close<\/strong> on turnover of EGP 3.8 bn (4.8% above the 90-day average). International investors were the sole net sellers. The index is up 2.9% YTD.<\/p>\n

In the green: <\/strong>EFG Holding (+4.5%), Telecom Egypt (+4.2%), and Egypt Kuwait Holding -EGP (+4.2%).<\/p>\n

In the red: <\/strong>EgyptAlum (-2.1%), GB Corp (-1.3%), and Oriental Weavers (-1.0%).<\/p>\n

\n

CORPORATE ACTIONS- <\/p>\n

That\u2019s a wrap on <\/strong>Beltone\u2019s acqui<\/strong>sition of Sodic for Securitization: <\/strong>Our friends at Beltone Holding finalized an EGP 8.6 mn acquisition of Sodic\u2019s securitization arm, Sodic for Securitization, according to a disclosure (pdf)<\/a> to the EGX.<\/p>\n

REFRESHER- <\/strong>Sodic for Securitization announced last March<\/a> that it would offload all of its shares to Beltone Financial Holding after its general assembly approved the decision.<\/p>\n","protected":false},"excerpt":{"rendered":"

The benchmark index closed up 0.2% at a record 6,130<\/p>\n","protected":false},"author":1,"featured_media":660905,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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-660904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"9c2b4d7f-e2a6-43f4-a6fa-e0b5dc46803d","order":"13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/1843.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The S&P 500 hits fresh high","related_issue":[660881],"teaser":"The benchmark index closed up 0.2% at a record 6,130","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.2dcc52f2-97b2-489a-92a2-1a953c8dfe43.mp3"},"yoast_head":"\nThe S&P 500 hits fresh high - 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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":581667,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/adnoc-gas-on-course-to-be-one-of-the-worlds-largest-listed-gas-firms\/","url_meta":{"origin":660904,"position":1},"title":"Adnoc Gas on course to be one of the world\u2019s largest listed gas firms","author":"enterpriseam admin","date":"19 February 2023","format":false,"excerpt":"Adnoc Gas is set to raise some USD 2 bn in its upcoming IPO, valuing the company at USD 50 bn and making it one of the world\u2019s largest listed gas companies, Bloomberg reports, citing sources close to the transaction. The natural gas arm of the UAE\u2019s national energy company\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":660904,"position":2},"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":665231,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/14\/us-stocks-extend-rally-on-softer-inflation-data\/","url_meta":{"origin":660904,"position":3},"title":"US stocks extend rally on softer inflation data","author":"enterpriseam admin","date":"14 May 2025","format":false,"excerpt":"The S&P 500 closed higher for the second straight session, wiping out year-to-date losses","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\/2025\/5\/1090.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547682,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/prepare-for-stratospheric-oil-prices\/","url_meta":{"origin":660904,"position":4},"title":"Prepare for \u201cstratospheric\u201d oil prices?","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Oil could reach a \u201cstratospheric\u201d USD 380 a barrel if Russia continues to slash output to EU countries in response to escalating Western sanctions, JPMorgan analysts warned in a note to clients cited by Bloomberg. G7 nations have been working towards implementing a price cap on Russian oil in a\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":546167,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/05\/banque-misr-restructures-holding-of-banque-du-caire-coinbase-snaps-up-goldmans-first-btc-backed-loan\/","url_meta":{"origin":660904,"position":5},"title":"Banque Misr restructures holding of Banque du Caire + Coinbase snaps up Goldman\u2019s first BTC-backed loan","author":"enterpriseam admin","date":"5 May 2022","format":false,"excerpt":"Banque Misr now owns nearly 100% of BdC: Banque Misr has purchased 1.13 bn shares (around 42.9%) in Banque du Caire (BdC) in a EGP 6.97 bn block transaction on the Egyptian Exchange in what the bank described in a bourse filing (pdf) right before the Eid break as \u201cinternal\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\/660904","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=660904"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/660904\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/660881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/660905"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=660904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=660904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=660904"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=660904"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=660904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}