Egyptian stocks recovering
Egyptian stocks recovering in early trading after 'Black Sunday' saw 10 per cent wiped of the value of companies
Click here to add Commercial International Bank as an alert
Disable alert for Commercial International Bank,
Click here to add Ezz Dekheila as an alert
Disable alert for Ezz Dekheila,
Click here to add Mohamed Morsi as an alert
Disable alert for Mohamed Morsi,
Click here to add Orascom Construction Industries as an alert
Disable alert for Orascom Construction Indus ...
Egypt's bourse jumped into the green on Monday morning with the main EGX30 index gaining 2 per cent to climb above the 5,000 points level 45 minutes after the session opened.
On Monday the market slid 3.5 per cent 20 minutes after the session started, but started to recover afterwards. Such recoveries normally follow large drops as share prices become attractive to speculators.
The broader EGX70 index, however, dropped 2.12 per cent on Tuesday and has not seen a recovery.
Market leaders, Orascom Construction Industries (OCI) and Commercial International Bank both gained 2.5 per cent.
Orascom Telecom Holding and Ezz Dekheila gained 5.8 and 6.3 per cent, respectively.
The situation in Egypt remains volatile as mass protests are planned in several cities across Egypt on Tuesday in support and in opposition of the president's latest power grab.
President Morsi is also scheduled to meet with representatives of the judiciary on Tuesday afternoon to discuss the crisis.
- Nip, tuck: Dubai's grand plans for being a major player in medical tourism
- Zain, UNHCR, Facebook to bring free internet access to urban refugees in Jordan
- Yemen Central Bank headquarters to relocate from Sanaa to Aden
- IMF report details the crippling economic effects of conflict in MENA
- Start Up Lebanon entrepreneurs head to Silicon Valley Roadshow