The UAE + Israel just inked their biggest commercial agreement since normalizing relations
UAE sovereign fund Mubadala has bought a 22% stake in Israeli natural gas field Tamar for USD 1 bn in what Bloomberg says is the biggest commercial agreement yet since the two countries normalized diplomatic relations last year.
US stocks are booming: The average share price on the S&P 500 is up 24% this year to USD 209, off the back of gains by heavyweights such as Google parent company Alphabet, Bloomberg reports. The fact that fewer companies are splitting their stocks — with only three splits this year compared to an average of nine over the decade preceding 2019 — is also contributing to soaring valuations.
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EGX30 |
11,301 |
+0.2% (YTD: +4.2%) |
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USD (CBE) |
Buy 15.65 |
Sell 15.75 |
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USD at CIB |
Buy 15.65 |
Sell 15.75 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
11,319 |
+0.1% (YTD: +30.3%) |
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ADX |
7,652 |
+0.1% (YTD: +51.7%) |
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DFM |
2,912 |
-0.1% (YTD: +16.9%) |
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S&P 500 |
4,535 |
-% (YTD: +20.8%) |
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FTSE 100 |
7,138 |
-0.4% (YTD: +10.5%) |
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Brent crude |
USD 72.61 |
-0.6% |
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Natural gas (Nymex) |
USD 4.71 |
+1.5% |
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Gold |
USD 1,833.70 |
+1.2% |
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BTC |
USD 50,216 |
+0.1% (as of midnight) |
THE CLOSING BELL-
The EGX30 rose 0.2% at Thursday’s close on turnover of EGP 1.86 bn (20% above the 90-day average). Local investors were net sellers. The index is up 4.2% YTD.
In the green: Pioneers Holding (+5.1%), GB Auto (+3.4%) and MM Group (+2.2%).
In the red: Fawry (-2.3%), Speed Medical (-1.0%), and Orascom Development Egypt (-1.0%).