S&P500 2,002 -1.64 % | NASDAQ100 4,654 -1.15% | DJI 17,281 -1.79% | NIKKEI225 17,372 0.66% | EGX30 9,196 -2.20% | EGX70 613 -2.37 % In The News • U.S. stocks sink with global equities as oil rout worsens; the Dow Jones industrial average capped the worst week since 2011,finishing with a 100-point lurch in the final half-hour of trading, as equities tumbled around the world after crude extended declines below $58 a barrel. Treasuries rose and the dollar fell on concern inflation is slipping • Egypt non-oil exports decreased 3.71% in Nov. to 11.6b Egyptian pounds; Egypt non-oil exports reached $20.2b in first 11 mos. of yr compared w/ $20.16b same period yr earlier, about 81% of target • Egypt Steps Up Dollar Sales as Pound Weakens in Black Market; central bank will step up foreign- currency sales this week after a dollar shortage pushed the pound to its weakest level in 20 months on black markets. The bank will offer $40 million four times a week, up from the current three, it said in an e-mailed statement on Dec. 11 • Egypt’s commodity exports hit EGP 143 billion, up by 3%; The Egyptian commodity exports achieved a progress in 2014, as it hit EGP 143 billion during the past eleven months this year, with an increase of 3% against the figures of 2013. Some new 320 exporters joined the list of Egyptian exporters. The Council of Engineering and Electronic Industries top the other councils in terms of its exports, which are estimated at $2.6 billion (equal around EGP 18.8 billion), followed by the Crops Council, whose exports hit $1.9 billion • Amer gets nod to start building resort in Jordan; Egypt’s Amer Group Holding said, in a statement to the stock market on Thursday, it has won approval to start building the $989.40 million Porto Dead Sea resort in Jordan over a period of seven years Market Overview The EGX30 extended its decline to as low as 9196 at a turnover of EGP772Mn due to sales of foreign institutions which recorded a net flow of EGP64.55Mn. Local retail investors and local institutions recorded net purchases of EGP27.02Mn and EGP26.35Mn respectively. Expecting the market to proceed its decline to 9050 correlated to the world indexes after crude oil declines below $58 a barrel
Posted on: Sun, 14 Dec 2014 07:32:47 +0000