Egypt stock exchange delays reopening till Wednesday
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Egypt stock exchange delays reopening till Wednesday
by Strawberry Sun Feb 13, 2011 2:30 am
CAIRO (Reuters) - Egypt's stock exchange, shut since January 27 because of political unrest, will not reopen until Wednesday, a bourse official said on Saturday.
It is the second time the government has postponed the reopening. The bourse was initially due to have started trading again on February 7 and then on Sunday, February 13.
The market regulator said last week that once it opens the exchange will suspend trade for a half hour if its broad 100-share index declines by 5 percent and for even longer if it falls by 10 percent.
The market lost 69 billion Egyptian pounds of its value in the two days it was open after countrywide protests broke out on January 25.
http://af.reuters.com/article/investingNews/idAFJOE71B05420110212
It is the second time the government has postponed the reopening. The bourse was initially due to have started trading again on February 7 and then on Sunday, February 13.
The market regulator said last week that once it opens the exchange will suspend trade for a half hour if its broad 100-share index declines by 5 percent and for even longer if it falls by 10 percent.
The market lost 69 billion Egyptian pounds of its value in the two days it was open after countrywide protests broke out on January 25.
http://af.reuters.com/article/investingNews/idAFJOE71B05420110212
Strawberry- Posts : 1757
Join date : 2011-02-07
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