Egyptian stock surge prompts temporary suspensions

Ahram Online, Wednesday 13 Apr 2011

Stock market trade in five listed companies has been temporarily suspensed after prices surged over a 5 per cent limit set by Egypt's financial authority.

Transfers of stock in Union National Bank, Arab Daily Products Co., El Ahli Investment and Development, Grand Investment Capital and Gulf Canadian Real Estate Investment Co. were all suspended for 30 minutes, following Egyptian regulations.

Egypt's main stock index is swinging back into the green this morning on the back of reports of former president Hosni Mubarak's detention.

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