Dubai’s luxury real estate market was the most active in the world for the second year running in 2022 as the city continued to cement itself as one of the world’s foremost wealth hubs, according to research from real estate consultants Knight Frank. Luxury residential prices in the city soared 44% during the year on an influx of wealthy residents. The consultancy thinks the trend will continue this year and expects prices to climb by another 14%.

China factory activity soars following zero-covid reversal: China's manufacturing activity grew at the fastest rate in over a decade in February as the economy roared back to life following the lifting of covid-19 curbs. The manufacturing purchasing managers' index (PMI) rose to 52.6 from 50.1 in January, the highest reading since April 2012. (Reuters | WSJ)

	EGX30	17,123	+0.7% (YTD: +17.3%)
	USD (CBE)	Buy 30.58	Sell 30.69
	USD at CIB	Buy 30.58	Sell 30.68
	Interest rates CBE	16.25% deposit	17.25% lending
	Tadawul	10,192	+0.9% (YTD: -2.7%)
	ADX	9,854	+0.1% (YTD: -3.5%)
	DFM	3,447	+0.3% (YTD: +3.3%)
	S&P 500	3,951	-0.5% (YTD: +2.9%)
	FTSE 100	7,915	+0.5% (YTD: +6.2%)
	Euro Stoxx 50	4,216	-0.5% (YTD: +11.1%)
	Brent crude	USD 84.40	+1.2%
	Natural gas (Nymex)	USD 2.82	+2.5%
	Gold	USD 1,844.00	+0.4%
	BTC	USD 23,550	+1.8% (YTD: +41.5%)

THE CLOSING BELL-

The EGX30 rose 0.7% at yesterday’s close on turnover of EGP 2.19 bn (9.2% above the 90-day average). Foreign investors were net sellers. The index is up 17.3% YTD.

In the green: Palm Hills Development (+3.9%), Qalaa Holding (+3.6%) and Mopco (+3.5%).

In the red: Fawry (-2.3%), Talaat Moustafa Holding (-1.9%) and Abu Qir Fertilizers (-1.9%).

It’s a mixed picture in Asia this morning, with shares in China and Japan in the red but bourses in South Korea and Australia seeing gains. Stock futures point to a similarly patchy open in Europe and the US.