Egyptian cement companies could get some respite from sky-high coal prices amid signs that the energy supply crises in China and India are abating. Global coal prices have soared to record highs this year as two of the world’s biggest economies faced serious fuel shortages, but the crises are beginning to ease after the countries forced coal miners to ramp up supply, potentially putting a ceiling above the spiralling prices. Bloomberg has more.

Saudi Arabia’s stock exchange is going public, offering a 30% stake in an IPO that will see Saudi Tadawul Group Holding offer 36 mn shares in a bid to expand its access to investors, Khalid Al Hussan, the stock exchange’s CEO, told Bloomberg. The subscription period is due to kick off on 21 November, and insiders told Bloomberg that the offering could value the exchange at USD 3-4 bn. The offering is potentially the biggest for a bourse since pan-european stock exchange Euronext NV’s 2014 listing. SNB Capital, JPMorgan Chase and Citigroup will act as global coordinators and underwriters.

THE CLOSING BELL-

The EGX30 fell 0.5% yesterday on turnover of EGP 382.6 mn (74.9% below the 90-day average). Local investors were net sellers. The index is up 6.55% YTD.

In the green: Rameda (+5.5%), Ibnsina Pharma (+3.5%) and Ezz Steel (+3.5%).

In the red: GB Auto (-4.6%), Fawry (-3.6%) and Orascom Development Egypt (-2%).

Asian markets are largely flat this morning, while futures suggest that shares in Europe will likely follow suit later this morning. The Dow, S&P and Nasdaq look set to open slightly in the green, futures suggest at dispatch time.