Sunday 27 March 2011

Egypt stocks open strong, triggering market halt - Maktoob News

Egypt's stock market is reversing two days of earlier declines, with the broader EGX100 index surging almost 5.1 percent within minutes of the market's opening in a rally that forced a halt in trading.

The gains Sunday on the Egyptian Exchange followed two days of losses as the market resumed operations after an almost two-month halt because of the unrest that toppled President Hosni Mubarak.

Traders said the EGX100 surged 5.06 percent in under five minutes, triggering a "circuit-breaker" that suspends trade for 30 minutes if the index moves more than 5 percent.

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