What the markets are doing on 8 April 2021
The British company that owns the biotechnology behind the Oxford / AstraZeneca jab is going public — in the US. Oxford-based Vaccitech is reportedly filing for an IPO on the Nasdaq and could price the sale as early as this month, the Financial Times reports, citing unnamed sources with direct knowledge of the transaction. The plans to take the IPO across the pond is seen as a “loss” for the UK’s aspirations to become a hub for post-Brexit investments in life sciences.
Crowdfunding platform Patreon has tripled its valuation to USD 4 bn in a USD 155 mn funding round led by US tech hedge fund Tiger Global, reflecting the increased focus of VCs on startups that cater to content creators, it said in a blog post. Patreon, which wrapped last year a USD 90 mn funding round that reportedly valued the company at USD 1.2 bn, would use the new financing to provide new tools for creators, underpin potential acquisitions and expand its international presence.
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EGX30 |
10,228 |
-0.4% (YTD: -5.7%) |
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USD (CBE) |
Buy 15.65 |
Sell 15.75 |
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USD at CIB |
Buy 15.66 |
Sell 15.76 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
10,014 |
+0.3% (YTD: +15.3%) |
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ADX |
6,033 |
-0.8% (YTD: +19.6%) |
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DFM |
2,559 |
-0.6% (YTD: +2.7%) |
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S&P 500 |
4,079 |
+0.2% (YTD: +8.6%) |
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FTSE 100 |
6,885 |
+0.9% (YTD: +6.6%) |
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Brent crude |
USD 63.09 |
+0.6% |
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Natural gas (Nymex) |
USD 2.52 |
+2.6% |
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Gold |
USD 1,741.60 |
-0.1% |
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BTC |
USD 56,315 |
-2.7% (as of midnight) |
The EGX30 fell 0.4% yesterday on turnover of EGP 1.0 bn (28.9% above the 90-day average). Local investors were net sellers. The index is down 5.7% YTD.
In the green: CI Capital (+3.1%), AMOC (+2.5%) and Telecom Egypt (+0.8%).
In the red: Edita (-3.7%), SODIC (-2.6%) and GB Auto (-2.2%).
Asian markets are flat in early trading this morning and futures suggest US and European markets will open in the green later today.