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Wednesday, 26 January 2011

Egypt Index Drops Most Since May After Protests Against Mubarak Government - Bloomberg

Egyptian stocks tumbled the most since May after thousands took to the streets of Cairo and other cities yesterday in protests against the government of President Hosni Mubarak.

The benchmark EGX30 index fell 4 percent, the most since May 25, to 6,455.07 at 10:33 a.m. in Cairo, extending its decline this year to 9.6 percent. Egypt’s market was shut for a holiday yesterday.

The protests, rare in their size in Egypt, were inspired by a popular revolt that forced Tunisia’s President Zine El Abidine Ben Ali into exile on Jan. 14. A policeman and two protesters died in clashes yesterday, state-run Nile TV reported, citing an unnamed interior ministry official.