Today’s Trading Playbook
KEY THEMES
At the first trading day of the last week of 2021, oil prices are traded on a mixed note. WTI crude oil prices is currently trading lower, after airlines called off thousands of flights in the U.S. over the Christmas holidays amid surging COVID-19 infections. We note that Brent oil prices are in fact flat during early Monday’s trading. On the other hand, US futures equity indices are broadly unchanged, as investors are cautious, given the state of increasing infections of COVID-19 in the U.S.
Here at home, both indices ended yesterday on a bullish note. The EGX 30 is about to end December as usual in the green territory, committing to an old habit as we mentioned here before. With only four trading session left to go in 2021, the ytd performance for both indices reflect the story of the big shift that took place from small caps to large ones this year. While the EGX 70 EWI is still up 2.45% from ytd perspective, the EGX 30 is now actually up around 9.3% since the start of 2021.
Now, on to the top news and analysis for the day.