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Markets

Cairo stock exchange closed till next week

Published Updated

 CAIRO: Egypt's stock exchange, shut since anti-regime protests erupted last month, has postponed its reopening until next week, Cairo's market reported on Tuesday.

"The bourse made this decision after consultations with Financial Supervisory Authority, Misr for clearing, depository and central registry, brokerage firms and investors," it said in a statement.

The market, which was closed on January 27, had been due to resume trading on Monday along with the banking sector.

It had been shut after sustaining substantial losses in the first days of the protests that eventually overthrew president Hosni Mubarak but created a lingering climate of financial insecurity.

The stock exchange finished on January 27 with a 10 percent drop, reflecting a two-day loss of 70 billion Egyptian pounds, or around 12 billion dollars.

Copyright AFP (Agence France-Presse), 2011

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