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FINANCIAL NEWS
Egypt stock exchange remains shut
17 Feb 2011
(MENAFN) The Egyptian Exchange (EGX) reported that I would stay closed for another week, thus it would be closed for around one month, reported Tehran Times.
EGX officials had previously said that they are investigating annulling trades which caused the exchange to go down by fourteen percent in one day. However, Chairman Khaled Seyam said that would not happen as it would not be legal.
On the other hand, Egyptian shares hiked in London and the U.S. since the Cairo exchange closed.
It is worth noting that EGX has been closed since January 27, as protests grew in Egypt demanding the resignation of the previous President Mubarak. EGX remained closed even after he resigned.
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