What the markets are doing on 3 January 2021
The New York Stock Exchange is moving to delist three Chinese telecom companies with ties to the Chinese army, it said in a statement on Thursday. The move to take the shares of China Mobile, China Unicom, and China Telecom off the NYSE comes after US President Donald Trump blocked American investments in 31 Chinese firms that he claimed are connected to the military. China plans to take “necessary measures” to protect its companies from what it called an “abuse of national security and state power to suppress Chinese firms.”
Oil exporters need to decide in 2021 if they can continue relaxing supply curbs while keeping prices stable, Bloomberg says. OPEC+, the Saudi- and Russia-led alliance of producers, faces a “delicate balancing act” when it meets tomorrow as it weighs whether to lift production restrictions imposed last year to arrest the market collapse caused by the coronavirus and Riyadh’s price war.
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|
EGX30 |
10,845 |
-0.2% (YTD: -) |
|
|
USD (CBE) |
Buy 15.68 |
Sell 15.78 |
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USD at CIB |
Buy 15.68 |
Sell 15.78 |
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|
Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
8,689 |
-0.8% (YTD: -) |
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ADX |
5,045 |
-0.8% (YTD: -) |
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|
DFM |
2,491 |
-1.0% (YTD: -) |
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S&P 500 |
3,756 |
+0.6% (YTD: -) |
|
|
FTSE 100 |
6,460 |
-1.5% (YTD: -) |
|
|
Brent crude |
USD 51.80 |
+0.3% |
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Natural gas (Nymex) |
USD 2.54 |
+4.8% |
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Gold |
USD 1,895.10 |
+0.1% |
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BTC |
USD 32,601.98 |
+11.4% |
The EGX30 fell 0.2% on 31 December — closing the year down 22.3% on turnover of EGP 1.2 bn (10.5% below the 90-day average). Foreign investors were net sellers. The index finished 2020 down 22.3% YTD.
In the green: Pioneers Holding (+2.8%), Palm Hills (+2.2%) and Beltone Financial Holding (+2.0%).
In the red: Ezz Steel (-3.4%), Ibnsina Pharma (-2.9%) and Sidi Kerir Petrochemicals (-2.4%).