Thndr Accounts for 36% of Newly Registered EGX Individuals in 2021⚡

Thndr Accounts for 36% of newly registered EGX individuals in 2021⚡

The EGX saw a 132% year-over-year increase in newly registered individuals, reaching 59k in 2021 with Thndr accounting for 36%. 

To put things into perspective🔍 In 2020 all other brokerage firms collectively added 24k newly registered EGX individuals (25k when you include Thndr). In 2021, Thndr alone added more than 21k newly registered individuals. 

Local Pickup🌇

Goodbye Stamp Tax, Hello Capital Gains Tax📜

The FRA confirmed yesterday, January 2nd, 2021, as the start date for Egyptian residents not being subjected to the stamp tax when buying or selling EGX-listed securities.

More Details🧐 The decision comes into effect following a period of uncertainty surrounding the taxes imposed on EGX capital gains, leading to the government announcing an incentives package to support the EGX, which included the abolition of the stamp tax for resident investors.

Why is this Important🤔 Of course this also means the start of the capital gains tax, where resident investors will face a 10% capital gains tax on EGX transactions. 

Another Day, Another Sewedy Subsidiary Signs an Agreement✒

El Sewedy Electric (SWDY) subsidiary Egytech Cables signed an 8.49 million Kuwaiti Dinar (EGP 440 million) contract with Kuwait’s Public Authority for Housing Welfare to help transmit power to El Mutlaa Residential City.

More Details🧐 The 18-month contract will see Egytech Cables design, supply, & install all works related to the main substations for El Mutlaa Residential city on a turnkey basis. 

What’s a Turnkey Contract🤨 A turnkey contract is usually a construction contract where a contractor is employed to plan, design & build a project & do any other necessary development to make it ‘ready to use’ at an agreed price & a fixed date.

Why is this Important🤔 SWDY subsidiaries have been busy the past few months making agreements. Deals made by SWDY subsidiaries include a $16.7 million contract for a substation in Ghana in September 2021, a couple of contracts worth EGP 1.6 billion last month, & a $25 million agreement just last week.

Suez Canal 2021 Revenues Record All-Time High🚢

Suez Canal revenues hit an all-time high in 2021 of $6.3 billion, versus $5.6 billion in 2020, according to Suez Canal Authority chairman Osama Rabie.

More Details🧐 20,694 ships passed through the canal in 2021, versus 18,830 in 2020, marking a 10% increase. Net tonnage across the canal reached 1.27 billion tonnes in 2021, versus 1.17 billion tonnes in 2020, an 8.5% increase.

Why is this Important🤔 At the national economy level, the Suez Canal is one of the main sources of foreign exchange. Rabie attributed the increase to the flexible marketing policies adopted by the canal in dealing with various types of ships passing through, especially liquified natural gas (LNG) carriers.

What else is Clapping👏

Global Pickup🌎

U.S. Stock Exchanges Had a Wild 2021🎢

The S&P 500 closed in the green for the third straight year after rising 26.89% in 2021, creating $8.6 trillion in value. The Dow Jones & Nasdaq indexes gained 18.73% & 21.39% in 2021, respectively.

More Details🧐 U.S stock exchanges went on a wild ride in 2021, with the S&P 500 notching 70 all-time highs along the way, the second-highest number after 1995’s 77 record highs.

The year started out with a meme-stock frenzy fueled by retail traders. AMC Entertainment’s stock skyrocketed more than 1,200% while GameStop’s rallied about 700%.

2021 was also a record year for IPOs, albeit not the most successful in terms of returns. With over 1,000 making their trading debuts in 2021 led by Rivian, IPOs averaged a 10% decline post-IPO, versus a 76.3% increase in 2020.

We also saw regulatory crackdowns on U.S-listed Chinese stocks, namely Didi, which announced it would delist from the New York Stock Exchange six months after its IPO. Next year, experts expect Chinese tech companies to list more on their local exchanges, like Hong Kong or Shanghai.

Why is this Important🤔 In a year characterized by supply-chain issues, new COVID variants (Delta & Omicron), & a geopolitical stand-off between the U.S. & China, U.S markets soared. 

Credit mainly goes to a successful vaccine rollout, & an aggressive Fed pumping money into the economy. Energy & real estate were the best-performing sectors in the S&P 500 this year, surging more than 40% each. Tech & financial services also rose more than 30%.

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