Tuesday 8 March 2011

Egyptian shares slide on overseas bourses - The National

Egyptian stocks listed overseas are losing their shine as the Egyptian Exchange's continued closure puts into jeopardy investors' "buy" positions.

Global depository receipts (GDRs) for Cairo's companies listed in London, including Orascom Telecom and Orascom Construction Industries, have fallen in the past few days after staging an initial rally.

GDRs are like shares that provide international companies with access to another exchange.

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