Tags: Mideast Markets

Egypt Delays Stock Market's Reopening Until Next Week

Tuesday, 22 Feb 2011 07:04 AM

Egypt's stock exchange says it has postponed the resumption of trading on the market until next week.

The Egyptian Exchange said in an e-mailed statement Tuesday the decision was taken after consultations with the Egyptian Financial Services Supervisory Authority and brokerage houses. It did not specify a date for the relaunch.

The exchange has been shuttered since Jan. 27, after its benchmark index shed almost 17 percent in two consecutive trading sessions as massive anti-regime protests gripped the country.

The unrest has since spread across the region, driving markets down.

The Dubai Financial Market's main index closed down 2.44 percent, to 1,479 points, while Saudi Arabia's TASI index was off almost 1.3 percent by 2:24 p.m. local time, to 6,218 points.

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Egypt's stock exchange says it has postponed the resumption of trading on the market until next week.The Egyptian Exchange said in an e-mailed statement Tuesday the decision was taken after consultations with the Egyptian Financial Services Supervisory Authority and...
Mideast Markets
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2011-04-22
 

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