Monday 28 March 2011

Egypt stocks rally for second day - Maktoob News

Trading on Egypt's stock exchange has been halted for a fourth consecutive session after the market rallied sharply in the first 15 minutes of trade.

The Egyptian Exchange's benchmark EGX30 index surged over 7 percent early Monday while the broader EGX100 climbed 5 percent. The EGX100's gain triggering a 30 minute suspension of trading set in place to protect the market that had been closed for almost two months amid fallout from the unrest that toppled former President Hosni Mubarak.

The rally came as bargain hunters stepped into the market, driving up prices and building on the previous day's 5 percent gain in the benchmark index.

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