Tags: Egypt Economy | banking

Reopening of Egypt Exchange Put Off 3 More Days

Sunday, 13 Feb 2011 03:35 PM

The regulator of Egypt's stock market says the resumption of trading has been put off by three more days.

The regulator says the market will reopen Wednesday, instead of Sunday, as initially anticipated. Saturday's statement said more consultations with brokers and companies are needed.

The exchange was closed Jan. 28, three days the outbreak of an uprising that ousted Egyptian President Hosni Mubarak

In the two days before the closure, the market's benchmark EGX30 index had dropped almost 17 percent.

The crisis has rattled international investors, prompting an exodus of foreign funds and raising worries about sharp fluctuations when the market reopens. Communications and banking services have largely been restored.

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The regulator of Egypt's stock market says the resumption of trading has been put off by three more days.The regulator says the market will reopen Wednesday, instead of Sunday, as initially anticipated. Saturday's statement said more consultations with brokers and companies...
Egypt Economy,banking
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2011-35-13
 

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