Egypt's bourse on Tuesday spiked more than 5.0 percent in a buying spree sparked by the orderly start to voting in the country's first post-revolution election, leading to the suspension of trading. The main EGX-30 index rose 5.08 percent or 191.93 points to touch 3,972.06, after weeks of political upheaval and deadly clashes between police and protesters that caused huge falls in the value of the local stock market. The regulator said that intense buying by investors triggered an automatic suspension of trading, which occurs when the market moves by more than 5.0 percent. The main index closed 8.35 percent down at the end of last week amid deadly clashes between police and protesters demanding the ouster of the military junta that took power when Hosni Mubarak was ousted in February. An uncertain transition to civilian rule, labour unrest and sporadic violence had aggravated Egypt's economic slump during the months following a popular uprising that unseated Mubarak in February. Last week Standard and Poor's ratings agency cut its long-term rating on Egypt by one notch to 'B+'. But the first day of voting on Monday saw a turnout that was "higher than expected", election officials said, with the day winding down without any reports of violence.
GMT 19:47 2018 Saturday ,06 January
Global stocks extend rally; London hits record peakGMT 19:22 2018 Wednesday ,03 January
Worldwide stocks start year on a highGMT 10:37 2018 Wednesday ,03 January
Asian markets build on gains, dollar faces further weaknessGMT 17:30 2017 Sunday ,31 December
London stocks end year on record highGMT 18:04 2017 Thursday ,28 December
Miners boost stocks in thin holiday tradingGMT 18:51 2017 Monday ,25 December
Oman’s share index falls on lack of buying supportGMT 08:49 2017 Sunday ,24 December
'Virtual gold' may glitter, but mining it can be really dirtyGMT 17:45 2017 Saturday ,23 December
Madrid stocks sink on Catalan woes; London hits record
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor