{"id":692543,"date":"2026-04-08T00:00:00","date_gmt":"2026-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=692543"},"modified":"2026-04-08T13:39:01","modified_gmt":"2026-04-08T13:39:01","slug":"egp-rebounds-egx-in-the-green-how-om-el-donia-is-reacting-to-the-us-iran-two-week-ceasefire","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/08\/egp-rebounds-egx-in-the-green-how-om-el-donia-is-reacting-to-the-us-iran-two-week-ceasefire\/","title":{"rendered":"EGP rebounds, EGX in the green: How Om el Donia is reacting to the US-Iran two-week ceasefire"},"content":{"rendered":"

Good afternoon, ladies and gents.<\/strong> It\u2019s a relatively lighter day in Om El Donia as tensions begin to ease following the overnight announcement of a two-week ceasefire<\/a> between the US and Iran \u2014 we\u2019ve got the latest below.<\/p>\n

While our city\u2019s usual late-night hum has been silenced by the new 9pm commercial curfew, the real noise is happening behind the scenes.<\/strong> We\u2019re digging into the fallout for the city\u2019s F&B and retail operators, some of whom are watching 90% of their revenue vanish as the lights go out.<\/p>\n

And if you\u2019ve noticed your vocabulary starting to feel a little\u2026 old<\/strong>, we\u2019re reviewing a book on how social media brain rot is low-key mogging our offline speech.<\/p>\n

First up, the news..<\/strong>.<\/p>\n

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THE BIG STORY TODAY-<\/p>\n

\ud83d\udccd The EGX30 and the EGP rallied today following the<\/strong> announcement of a two-week truce between the US and Iran<\/strong>, with the benchmark index closing up 4.1% and the USD trading at EGP 53.27 (for buy) and 53.37 (for sell) at the National Bank of Egypt and Banque Misr, and 53.33-53.43 at CIB.<\/p>\n

High hopes?<\/strong> Market optimism sparked a \u201cstrong return of foreign investment into debt instruments on the secondary market [\u2026] with inflows reaching approximately USD 800 mn today alone,\u201d a banking source tells EnterpriseAM. Momentum is expected to carry into the primary market during tomorrow\u2019s session, as investors look to capitalize on the de-escalation peace dividend, the source added.<\/p>\n

The recovery coincides with the CBE\u2019s move to renew a USD 2 bn Kuwaiti deposit due this month<\/strong> \u2014 with a preliminary agreement in place \u2014 as regional volatility has stalled plans to convert roughly USD 4 bn in Kuwaiti placements into direct equity, a senior banking source tells EnterpriseAM.<\/p>\n

^^ We\u2019ll have more details in tomorrow\u2019s edition of EnterpriseAM. <\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 Market reactions following the two-week US-Iran <\/strong>overnight ceasefire <\/strong>announcement<\/strong> \u2014 subject to a \u201ccomplete, immediate, and safe\u201d re-opening of the Strait of Hormuz \u2014 are dominating headlines.<\/strong> Most notably, oil prices plunged, with Brent falling more than 18.0% to near USD 91.2 per barrel and WTI losing more than 20.0% to roughly USD 92.5 per barrel at the time of publication. Gold advanced, climbing as much as 3.0% to USD 4.8k per ounce. The pan-European Stoxx 600 index jumped 4.0% this afternoon.<\/p>\n

^^Read more on: Bloomberg<\/a>, CNBC<\/a>, and Reuters<\/a>.<\/p>\n

\u2026But it seems the ceasefire was a little short-lived.<\/strong> Saudi Arabia\u2019s East-West oil pipeline \u2014 a vital line carrying crude from the Gulf to the Red Sea \u2014 was hit in an Iranian attack this afternoon. The pipeline is the only outlet for Saudi crude exports bar the Strait of Hormuz.<\/p>\n

^^Read more on: Reuters<\/a> and Financial Times<\/a>. <\/p>\n

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