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Berachain rides the crypto wave with unicorn status: Blockchain platform Berachain has raised a USD 69 mn funding round co-led by Brevan Howard Digital and Framework Ventures, earning it unicorn status, Bloomberg reports, citing people familiar with the matter. The project will be valued at USD 1.5 bn following this round, which comes amid a digital assets rally that saw Bitcoin hit record highs over the past week.
ALSO WORTH NOTING-
- China withdrew funds through a medium-term liquidity tool for the first time since November 2022 as it looks to sop up liquidity in the market, while keeping the rate on its one-year policy loans steady. (Bloomberg)
THE MARKETS THIS MORNING-
Asian markets fell this morning on the back of a faster-than-expected growth in US producer prices, CNBC reports. US futures also inched lower this morning following the S&P 500’s decline, while European futures pointed to a muted open.
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ADX |
9,255 |
+0.1% (YTD: -3.4%) |
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DFM |
4,290 |
+0.7% (YTD: +5.7%) |
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Nasdaq Dubai UAE20 |
3,726 |
+0.6% (YTD: -3.0%) |
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USD : AED CBUAE |
Buy 3.67 |
Sell 3.67 |
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EIBOR |
5.0% o/n |
5.4% 1 yr |
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TASI |
12,728 |
+0.0% (YTD: +6.4%) |
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EGX30 |
31,316 |
+1.0% (YTD: +25.8%) |
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S&P 500 |
5,150 |
-0.3% (YTD: +8.6%) |
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FTSE 100 |
7,743 |
-0.4% (YTD: +0.1%) |
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Euro Stoxx 50 |
4,993 |
-0.2% (YTD: +10.4%) |
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Brent crude |
USD 85.25 |
-0.2% |
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Natural gas (Nymex) |
USD 1.76 |
+0.8% |
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Gold |
USD 2,167.40 |
0.0 |
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BTC |
USD 71,999.75 |
-1.1% (YTD: +56.5%) |
THE CLOSING BELL-
The DFM rose 0.7% yesterday on turnover of AED 472.9 mn. The index is up 5.7% YTD.
In the green: 3.2 (+3.2%), Deyaar Development (+2.8%) and Emaar Development (+2.4%).
In the red: Al Mal Capital REIT (-9.1%), Commercial Bank of Dubai (-1.4%) and Ekttitab Holding Company (-1.3%).
Over on the ADX, the index closed up 0.1% on turnover of AED 1.2 bn. Meanwhile in Nasdaq Dubai, the index closed up 0.6%.
CORPORATE ACTIONS-
Adnoc Drilling approved a final dividend payout of USD 358 mn for 2023, equivalent to 8.22 fils per share, according to an ADX disclosure (pdf). This brings the total dividend for the year to USD 717 mn, or 16.45 fils per share, up 5% y-o-y. The dividend will be disbursed on or around 3 April to all shareholders holding company shares on 21 March. The company plans to maintain its dividend payouts, increasing at least 5% annually on a per-share basis over the next three years (2024-2026).
