Egyptian shares fell the most in more than two weeks after a demonstrator was killed and dozens were injured as Buy nike running shoes onlinesecurity and military forces cleared protesters from downtown Cairo yesterday.
Commercial International Bank SAE, the country’s biggest publicly traded lender, retreated to the lowest level since March 24. Ezz Steel (ESRS), the North African nation’s biggest steel producer, slumped 2.1 percent. The EGX 30 Index (EGX30) dropped 1.4 percent, the biggest decline since March 24, to 5,349.02 at the 2:30 p.m. close in Cairo.
One person was killed and 71 were wounded after the army dispersed overnight protesters in Cairo’s Tahrirnike mens acg sandals Square early Saturday, state-run Middle East News Agency reported, citing the health ministry. Thousands of people gathered April 8 in the downtown square demanding prompt trials for former president Hosni Mubarak and his top officials.
“The weekend caused a lot of confusion and investors are beginning to think the market was overbought,” said Teymour El- Derini, head of Middle East Sales at Cairo-based Naeem Brokerage. “We expect weakness in the market over the next few days.”
InflationEgypt’s benchmark stock index has gained 8 percent since reaching this year’s low on March 24. Trading resumed March 23 after an almost two-month halt as protests led to the ouster of the North African country’s president.
Inflation in Egypt accelerated in March on rising food prices, one of the causes of the unrest that toppled Mubarak. Reebok ZigTech onlineThe inflation rate in urban parts of Egypt, the gauge that the central bank monitors, rose to 11.5 percent from 10.7 percent in February, the Central Agency for Public Mobilization and Statistics said on its website today.
Commercial International fell 2.3 percent to 30.85 Egyptian pounds. Ezz retreated to 10.46 pounds, the lowest level this month.
Commentaires
Il n'y a aucun commentaire sur cet article.