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Thursday, 8 April 2021

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.

Down

EGX30

10,228

-0.4% (YTD: -5.7%)

None

USD (CBE)

Buy 15.65

Sell 15.75

None

USD at CIB

Buy 15.66

Sell 15.76

None

Interest rates CBE

8.25% deposit

9.25% lending

Up

Tadawul

10,014

+0.3% (YTD: +15.3%)

Down

ADX

6,033

-0.8% (YTD: +19.6%)

Down

DFM

2,559

-0.6% (YTD: +2.7%)

Up

S&P 500

4,079

+0.2% (YTD: +8.6%)

Up

FTSE 100

6,885

+0.9% (YTD: +6.6%)

Up

Brent crude

USD 63.09

+0.6%

Up

Natural gas (Nymex)

USD 2.52

+2.6%

Down

Gold

USD 1,741.60

-0.1%

Down

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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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