FAB could sell payments business, Delek rebrands
Brookfield eyes FAB’s payment business: Canadian asset management giant Brookfield is reportedly in talks to acquire Magnati, First Abu Dhabi Bank’s (FAB) payment arm, in a transaction that could value it at more than USD 1 bn, Bloomberg reported yesterday, citing unidentified sources. The EFG Hermes-suitor could receive more bids from other potential buyers for the subsidiary, the people said.
Israel’s Delek Drilling rebrands, looks to Morocco exploration: Israeli energy company Delek Drilling has rebranded to NewMed Energy, ahead of expansion plans that could see it launch natural gas exploration in Morocco, according to a press release. Alongside Chevron, the company operates Israel’s two biggest offshore reservoirs, the Tamar and Leviathan gas fields, from which natgas is pumped our way for liquefaction and re-export to Europe.
Kipco restructures OSN ahead of potential sale: Kuwait-based Kipco, the majority shareholder of OSN, is working to restructure and develop the TV network ahead of a potential sale, a company source told Sky News Arabia.
|
|
EGX30 |
11,302 |
-1.7% (YTD: -5.4%) |
|
|
USD (CBE) |
Buy 15.66 |
Sell 15.76 |
|
|
USD at CIB |
Buy 15.66 |
Sell 15.76 |
|
|
Interest rates CBE |
8.25% deposit |
9.25% lending |
|
|
Tadawul |
12,562 |
+0.8% (YTD: +11.3%) |
|
|
ADX |
9,103 |
+0.7% (YTD: +7.2%) |
|
|
DFM |
3,309 |
-0.1% (YTD: +3.6%) |
|
|
S&P 500 |
4,305 |
-1.0% (YTD: -9.7%) |
|
|
FTSE 100 |
7,494 |
+0.1% (YTD: +1.5%) |
|
|
Brent crude |
USD 96.84 |
+1.5% |
|
|
Natural gas (Nymex) |
USD 4.51 |
+0.3% |
|
|
Gold |
USD 1,900 |
-0.4% |
|
|
BTC |
USD 37,890 |
+2.8% (as of midnight) |
THE CLOSING BELL-
The EGX30 fell 1.7% at yesterday’s close on turnover of EGP 837 mn (18% below the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.
In the green: Eastern Company (+1.4%), Qalaa Holdings (+0.9%) and EFG Hermes (+0.5%).
In the red: Cleopatra Hospital (-4.4%), Ibnsina Pharma (-4.2%) and CIRA (-4.2%).