The Egyptian stock market will not reopen until next week at the earliest, says an official. The stock market has been closed since 30 January after the beginning of unprecedented public protests that ultimately led to President Hosni Mubarak's resignation.
The demonstrations caused a 16 per cent drop in the stock market , a loss of around LE70 billion (US$12 bn) in the last two sessions before closure.
The official, who wished to stay anonymous, indicated in a call with Reuters that, following meetings between the stock market and the financial monitoring organization and other parties, it was decided that the dealings will not start till next week. The opening will be announced 48 hours in advance.
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