Update: Egypt stock market slides Sunday morning after violent weekend

Ahram Online, Sunday 27 Jan 2013

Country-wide violent clashes and political turmoil following the Port Said verdict sent the stock market on a downward spiral in early trading Sunday

Clashes Cairo
A protester opposing Egyptian President Mursi gestures at riot police during clashes in Cairo (Photo:Reuters)

 

Egypt stocks tumbled Sunday morning as a wave of political unrest hit the country, with violent clashes erupting between the police and security forces in Cairo, Suez, Port Said, Mahala and Alexandria. 

The main EGX30 index declined by 1.1 per cent to sit at 4,624 points an hour into the session. The broader EGX70 also dropped, by 1.86 per cent.

This brings down the gains the market saw since the begning of 2013 to some 2.9 per cent.

Turnover marks a weak LE90 million so far, with 97 shares losing value and only 9 gaining.

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