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Egypt Bourse suspends trade for 30 minutes after index slumps

Reuters, Tuesday 9 Aug 2011

Share trading halted on the Egyptian Exchange on Tuesday after the benchmark index tumbled 5 percent, tracking U.S. and European markets lower on fears for the global economy

The index .EGX30 last quoted at 4,466 points at 1055 GMT before the suspension.

"I don't think we need an explanation -- we are just following the global market," said Ashraf Akhnoukh of CIBC brokerage. "The drop of 6 percent in the U.S. is like our market being down 20 percent.

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