Global dealmaking plunges + sukuk surge in 1Q 2022
Global M&A has fallen to its lowest level since 2020 as soaring inflation, the conflict in Ukraine and tighter regulations put the brakes on a surge of dealmaking activity, the Financial Times reports. A little over USD 1 tn worth of transactions were agreed in 1Q 2022, down 23% from the same period in 2021, according to Refinitiv data, which shows that every region in the world saw a decline in activity. The biggest acquisition of the quarter was Microsoft’s USD 75 bn takeover of games publisher Activision.
Private equity is the outlier: Flushed with cash, private equity firms spent a record USD 288 bn during the quarter, up 17% from last year, the data shows.
|
|
EGX30 |
11,238 |
0.0% (YTD: -6.0%) |
|
|
USD (CBE) |
Buy 18.22 |
Sell 18.32 |
|
|
USD at CIB |
Buy 18.20 |
Sell 18.30 |
|
|
Interest rates CBE |
9.25% deposit |
10.25% lending |
|
|
Tadawul |
13,090 |
+0.4% (YTD: +16.0%) |
|
|
ADX |
9,929 |
-0.2% (YTD: +17.0%) |
|
|
DFM |
3,537 |
+0.3% (YTD: +10.7%) |
|
|
S&P 500 |
4,546 |
+0.3% (YTD: -4.6%) |
|
|
FTSE 100 |
7,538 |
+0.3% (YTD: +2.1%) |
|
|
Euro Stoxx 50 |
3,919 |
+0.4% (YTD: -8.8%) |
|
|
Brent crude |
USD 104.39 |
-0.3% |
|
|
Natural gas (Nymex) |
USD 5.72 |
+1.4% |
|
|
Gold |
USD 1,923.70 |
-1.6% |
|
|
BTC |
USD 46,252 |
-0.2% (as of midnight) |
THE CLOSING BELL-
The EGX30 fell 0.01% at Thursday’s close on turnover of EGP 1.22 bn (20.4% above the 90-day average). Local investors were net Sellers. The index is down 6% YTD.
In the green: Orascom Construction (+5.0%), Qalaa Holding (+4.9%) and GB Auto (+3.6%).
In the red: EKH (-4.4%), AMOC (-4.4%) and Medinet Nasr Housing (-2.7%).