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Thursday, 20 July 2017

Egypt economic activity slows in 2Q2017

Financial Conditions Index — Further tightness is underway following July’s interest rate hike: Economic activity in Egypt slowed down in 2Q2017, Pharos Research’s Financial Conditions Index (FCI) reveals. Despite M2 acceleration, real broad liquidity sub-index is expected to reflect more tightened monetary conditions, due to the inflationary shock of a higher fuel and electricity prices, in addition to the impact of July’s interest rate hike. Furthermore, the EGX30 Index was mostly flat in June, not to mention that average daily overnight interbank rate rose significantly, from 15.4% in April to 17.6% in June. You can catch the full report here.

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WTI: USD 47.08 (-0.08%)
Brent: USD 49.66 (-0.08%)

Natural Gas (Nymex, futures prices) USD 3.07 MMBtu, (+0.23%, August 2017 contract)
Gold: USD 1,239.60 / troy ounce (-0.19%)

TASI: 7,229.56 (-0.35%) (YTD: +0.27%)
ADX: 4,594.16 (+0.49%) (YTD: +1.05%)
DFM: 3,582.25 (+0.11%) (YTD: +1.45%)
KSE Weighted Index: 406.53 (-0.21%) (YTD: +6.96%)
QE: 9,502.36 (+1.16%) (YTD: -8.95%)
MSM: 5,043.00 (-0.41%) (YTD: -12.79%)
BB: 1,319.03 (+0.31%) (YTD: +8.08%)

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