Pre-Trading Thoughts

The CBE has hired Barclays as the international financial adviser for the sale of its 99% stake in the state-owned United Bank. We expect April’s urban inflation reading to give the CBE a chance to keep rates on hold at its meeting today. Fitch Ratings downgraded four Egyptian banks' Long-Term Issuer Default Ratings to B from B+ and Viability Ratings to B from B+, and maintained their outlooks as Negative. The Minister of Finance announced the negotiation with international development instit...