The EGX30 rose 0.1% yesterday on turnover of EGP 1.6 bn (18.5% above the 90-day average). Domestic investors were net sellers. The index is down 21.0% YTD.

In the green: Dice (+6.2%), Orascom Investment Holding (+4.5%) and Beltone Financial Holding (+4.1%).

In the red: Sodic (-2.3%), Juhayna (-2.3%) and Edita (-2.2%).

Asian markets opened in the red this morning and futures suggest Wall Street and European markets will all follow suit later today.

US oil producers have signalled intent to join European companies in reducing emissions as investors place pressure on firms to act on climate change, reports the Financial Times. Meanwhile, Iran is preparing to up its oil exports after Biden takes office, banking on a possible easing of US sanctions under the new administration, Iranian state media said, according to Reuters.

A new USD 908 bn fiscal stimulus package could make its way to the US Senate as early as today, the Financial Times reports. The bill would allocate bns for small businesses, unemployment benefits, local government, and aid to struggling industries such as airlines.

The European Central Bank is likely to end 2020 with another burst of stimulus when it meets on Thursday, according to Bloomberg. The ECB kept its interest rate and monetary policy stance unchanged in its most recent meeting in October, but signaled that further accommodative policy action could come this month as eurozone economies suffered another hit by the return to lockdown.