CAIRO — Egypt’s stock market took a beating for the third consecutive day, dragged lower by protests and violence in the capital that raised questions about the country’s stability days before pivotal parliamentary election.
The Egyptian Exchange’s benchmark EGX30 index fell by almost 3.1 percent within minutes of the start of trade before rebounding slightly. The index was down 2.95 percent by 11:30 a.m. local time, blowing past the 3,800 point level seen by brokers as a key support level. The declines built on the previous day’s 4 percent slide and dragged its year-to-date decline down to over 47 percent.
Read full article >>