What the markets are doing on 19 April 2021
Social audio app Clubhouse locked down an unspecified investment in a series C funding round, bringing the company’s value to USD 4 bn, Reuters reports, citing a source with knowledge of the matter. The funding round was led by Silicon Valley-based VC firm Andreessen Horowitz General Partner Andrew Chen, along with other “major investors.” Twitter had reportedly been mulling acquiring Clubhouse earlier this month before calling off the talks.
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EGX30 |
10,358 |
+2.1% (YTD: -4.5%) |
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USD (CBE) |
Buy 15.63 |
Sell 15.73 |
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USD at CIB |
Buy 15.63 |
Sell 15.73 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
10,049 |
+0.6% (YTD: +15.6%) |
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ADX |
6,124 |
-0.1% (YTD: +21.4%) |
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DFM |
2,636 |
+0.1% (YTD: +5.8%) |
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S&P 500 |
4,186 |
+0.4% (YTD: +11.4%) |
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FTSE 100 |
7,020 |
+0.5% (YTD: +8.7%) |
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Brent crude |
USD 66.27 |
-0.8% |
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Natural gas (Nymex) |
USD 2.72 |
+1.5% |
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Gold |
USD 1,775.20 |
-0.3% |
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BTC |
USD 57,006.54 |
-4.72% |
The EGX30 rose 2.1% yesterday on crazily anemic turnover of EGP 460 mn (65.9% below the 90-day average). Local investors were net sellers. The index is down 4.5% YTD. The extent to which we now lag our regional peers (Tadawul, ADX, DFM, above) in YTD performance is shocking.
In the green: GB Auto (+6.5%), CIB (+3.4%) and MM Group (+3.3%).
In the red: CI Capital (-1.8%) and Export Development Bank (-0.3%).
Asian markets opened strongly in the green this morning, but futures point to a mixed open on Wall Street this afternoon, with the Down and S&P set to open in the red while the tech-heavy Nasdaq is in the green. Shares in Toronto and major European indexes are all set to open in the green.