Wall Street ends February lower: US stocks resumed their decline yesterday, ending the month of February on a decline amid traders’ concerns about rising borrowing costs. The Dow Jones index lost more than 200 points yesterday, to close down by 0.7%, and the Standard & Poor’s 500 index fell by 0.3%, deepening its losses during the month to 2.6%. Stocks on Wall Street posted their biggest weekly losses in two months last week, after a series of strong economic data raised fears that the Federal Reserve will raise interest rates more than previously expected, in order to reduce inflation to its target rate. (Archyde.com l bloomberg l Financial Times l CNBC).
Collective gains for Asian markets, supported by the rise in manufacturing activity in China to the highest level since 2012according to CNN bc. Futures trading indicated a mixed performance for stocks in Europe and the United States later in the day.
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EGX30 (Tuesday) |
17,002 |
-0.6% (YTD: +16.5%) |
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US dollars (central bank) |
Buy 30.58 pounds |
Selling 30.68 pounds |
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USD (Commercial International Bank) |
Buy 30.58 pounds |
Selling 30.68 pounds |
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prices Interest (CBE) |
16.25% for deposit |
17.25% for lending |
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Tadawul (Saudi Arabia) |
10,103 |
+1.1% (YTD: -3.6%) |
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Abu Dhabi market |
9,845 |
+0.1% (YTD: -3.6%) |
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Dubai market |
3,438 |
+0.6% (YTD: +3.1%) |
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Standard & Poor’s 500 |
3,970 |
-0.3% (YTD: +3.4%) |
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FTSE 100 |
7,876 |
-0.7% (YTD: +5.7%) |
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Euro Stoxx 50 |
4,238 |
-0.2% (YTD: +11.7%) |
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Brent crude |
$83.89 |
+1.8% |
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natural gas (nymex) |
$2.78 |
+1.7% |
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gold |
$1,834.60 |
+0.5% |
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Bitcoin |
$23,146 |
-1.0% (YTD: +40.2%) |
Continue The EGX30 index declined for the second session this week, down by 0.6%, by the end of trading on Tuesday. Amid total trading values of EGP 2.21bn (10.8% above the average over the past 90 days). Foreign investors were the only net sellers at the end. Thus, the index has increased by 16.5% since the beginning of the year.
In the green zone: Ezz Steel (+3.8%), Qalaa Holdings (+3.3%) and El Sewedy Electric (+2.7%).
In the red zone: Mobco (-6.2%), Ramida (-3.6%), and Oriental Weavers (-3.3%).