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Egypt delays stock market reopening - Daily News Egypt

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Egypt delays stock market reopening

CAIRO: Egypt’s stock exchange, closed since Jan. 27 because of the protests that ousted president Hosni Mubarak, has once again delayed its reopening, the stock exchange said on Thursday. The stock exchange will open when the bourse’s head meets the new prime minister, a spokesman said. "Due to the latest developments in Egypt, (Egypt’s stock …


CAIRO: Egypt’s stock exchange, closed since Jan. 27 because of the protests that ousted president Hosni Mubarak, has once again delayed its reopening, the stock exchange said on Thursday.

The stock exchange will open when the bourse’s head meets the new prime minister, a spokesman said.

"Due to the latest developments in Egypt, (Egypt’s stock exchange) EGX decided to suspend trading this Sunday, March 6," the bourse said in a statement. The stock exchange was due to re-open Sunday.

"Resuming of trading will be decided following the discussions with Egypt’s new prime minister," it added.

Egypt’s Prime Minister Ahmed Shafiq resigned on Thursday and the military asked former transport minister Essam Sharaf to form a new government which pro-democracy activists want to be purged of Mubarak’s old guard.

The Cairo bourse closed down 10 percent on Jan. 27, after LE 70 billion ($11.9 billion) was wiped off shares in 48 hours.

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https://www.dailynewsegypt.com/2011/03/04/egypt-delays-stock-market-reopening/
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