Trading halted on Egyptian exchange over crisis
CAIRO (AP) — Egypt’s stock exchange says trading has been temporarily suspended amid an escalating political crisis and after the broader EGX100 index slumped 5 percent. The Egyptian Exchange’s benchmark EGX30 index had fallen by over 4 percent so far on Tuesday, its third consecutive da
CAIRO (AP) — Egypt’s stock exchange says trading has been temporarily suspended amid an escalating political crisis and after the broader EGX100 index slumped 5 percent.
The Egyptian Exchange’s benchmark EGX30 index had fallen by over 4 percent so far on Tuesday, its third consecutive day of declines as protests and violence in the capital raised questions about the country’s stability days before pivotal parliamentary election.
Market rules call for trading to be temporarily suspended if the broader EGX100 index moves by more than 5 percent.
The declines built on the previous day’s 4 percent slide and dragged its year-to-date decline down to over 47 percent.