Pre-Trading Thoughts

Expect to see fast movement on privatization transactions in Egypt, including big-ticket asset sales, before the end of June. Moody’s signaled that it could downgrade Egypt’s credit rating for the second time this year if its external position continues to deteriorate. ACWA Power, Alcazar Energy, and Infinity are reportedly among seven companies interested in acquiring Egypt’s two largest wind farms, the 580-MW Gabal El Zeit and the 545-MW Zafarana wind farms. Core inflation slipped to 38.6% ...