Egypt's stocks tumble over Port Said violence
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.
- Syria's children search for livelihood amidst Lebanon's graves
- Arab Thought Foundation's strategy to create 80 million jobs in the Middle East
- Let's just say nshallah! Egypt's back in business, says new survey
- Why Emiratisation, or any other GCC employment nationalization strategy, just doesn't work
- No sun on MENA's economic horizon? How today's political turmoil is crushing region's future edge in the global economy