What the markets are doing on 9 March 2021
The European Central Bank might accelerate the pace of its emergency bond purchases above EUR 20 bn per week in its monetary policy meeting this Thursday, in a bid to push back against recent spike in bond yields that threaten growth prospects in the eurozone, the Financial Times reported. Concerns about inflation and a tapering of monetary stimulus has sparked a sell-off in the US bond market in recent weeks, fueling expectations that policymakers may resort to more quantitative easing in a bid to hold down interest rates. Rates on the benchmark 10-year treasury reached 1.62% Friday — the highest since February 2020 — before pulling back.
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|
EGX30 |
11,459 |
+0.9% (YTD: +5.7%) |
|
|
USD (CBE) |
Buy 15.68 |
Sell 15.78 |
|
|
USD at CIB |
Buy 15.68 |
Sell 15.78 |
|
|
Interest rates CBE |
8.25% deposit |
9.25% lending |
|
|
Tadawul |
9,374 |
+0.3% (YTD: +7.9%) |
|
|
ADX |
5,685 |
-0.1% (YTD: +12.7%) |
|
|
DFM |
2,540 |
-0.2% (YTD: +1.9%) |
|
|
S&P 500 |
3,821 |
-0.5% (YTD: +1.7%) |
|
|
FTSE 100 |
6,719 |
+1.3% (YTD: +4.0%) |
|
|
Brent crude |
USD 68.66 |
+0.6% |
|
|
Natural gas (Nymex) |
USD 2.66 |
-0.3% |
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Gold |
USD 1,681.60 |
+0.2% |
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BTC |
USD 53,400.83 |
+4.2% |
The EGX30 fell 0.9% yesterday on turnover of EGP 1.33 bn (9.8% below the 90-day average). Regional investors were net buyers. The index is up 5.7% YTD.
In the green: AMOC (+3.2%), MM Group (+1.6%) and Orascom Financial (+1.3%).
In the red: Pioneers (-4.3%), GB Auto (-2.7%) and TMG (-2.4%).