Pre-Trading Thoughts

Egypt PMI drops to 21-month low in March, to 46.5, down from 48.1 in February. Activity and new orders decline sharply as demand stutters. Ukraine war and pound devaluation drive input prices higher. Business confidence falls to record low amid inflation fears. Saudi Arabia’s sovereign wealth fund could take stakes in military-owned Wataniya Petroleum and the three Siemens-built power plants as part of its proposed USD 10 bn investment in Egypt. The Ministries of Finance, Trade an...