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Turkey’s central bank turbulence has not swayed investors: Turkey’s sovereign wealth fund’s debut international bond issuance was met with a strong investor appetite, despite the sudden leadership change within the country’s central bank last week. The Turkey Wealth Fund reeled in some USD 7 bn in orders for its USD 500 mn USD-denominated bond issuance yesterday, according to a term sheet seen by the Financial Times.
Remember: Last week, President Recep Tayyip Erdogan appointed Fatih Karahan to lead the country’s central bank, replacing former governor Hafize Gaye Erkan, who stepped down just eight months into her role.
MEANWHILE- Asian shares are mixed this morning in early trading.The Kospi and Nikkei are comfortably in the green, but shares in Shanghai and Hong Kong are weakly in the red as traders look for direction and wait for inflation numbers. Futures suggest major European benchmarks will open largely in the green, with Paris’ CAC 40 being the sole exception. And look for a weak open on Wall Street absent a change in momentum.
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TASI |
12,165.93 |
+0.8% (YTD: +1.7%) |
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MSCI Tadawul 30 |
1,576.00 |
1% (YTD: +1.6%) |
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USD : SAR (SAMA) |
3.75 Sell |
3.75 Buy |
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Interest rates |
6% repo |
5.5% reverse repo |
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EGX30 |
27,905.95 |
+2.3% (YTD: +12.1%) |
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ADX |
9,354.69 |
+0.2% (YTD: -2.3%) |
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DFM |
4,161.94 |
+0.2% (YTD: +2.5%) |
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S&P 500 |
4,995.06 |
+0.8% (YTD: +4.7%) |
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FTSE 100 |
7,628.75 |
-0.7% (YTD: -1.4%) |
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Euro Stoxx 50 |
4,678.85 |
-0.3% (YTD: +3.5%) |
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Brent crude |
79.37 |
+1% |
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Natural gas (Nymex) |
1.97 |
-2.1% |
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Gold |
2,051.70 |
+0.01 |
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BTC |
44,239.32 |
+2.5% (YTD: +90.3%) |
THE CLOSING BELL-
The TASI rose 0.8% yesterday on turnover of SAR 10.6 bn. The index is up 1.7% YTD.
In the green: Gasco (+10%), Atheeb Telecom (+10%) and Takween (+9.1%).
In the red: Sisco Holding (-5.2%), Savola (-3.9%) and Extra (-3.1%).
CORPORATE ACTIONS-
Arab National Bank is planning a 33% capital hike to SAR 20 bn, up from SAR 15 bn through the issuance of one bonus share for every three shares owned in a bid to increase its liquidy, it said in a disclosure to Tadawul. The increase will capitalize SAR 5 bn from retained earnings and statutory reserves.
Abdullah Al Othaim Markets will disburse SAR 0.3 in interim dividends to shareholders for 2H 2023, it said in a disclosure to Tadawul yesterday.
Etihad Atheeb Telecommunication’s (GO) OGM approved a c. 277.8% capital increase by issuing new shares in a bid to improve its systems and network, as well as pay off debt, it said in a disclosure to Tadawul. The company will issue 2.8 new shares for every existing share to increase its capital by SAR 250 mn to reach c. SAR 340 mn.
