Thursday 24 March 2011

MSCI says monitoring Egypt stock exchange access | Reuters

Index provider MSCI said on Thursday it would consult with investors on the function and accessibility of the Egyptian stock exchange after its re-opening following more than seven weeks of closure.

The stock exchange closed on Jan 28 amid mass protests that eventually toppled the 30-year rule of President Hosni Mubarak but opened on Wednesday to narrowly avert the 40-day suspension limit that would lead to expulsion from MSCI's closely followed emerging markets index.

"MSCI will monitor the future developments on the Egyptian Exchange and continue interacting with market participants to gather feedback on the functioning and accessibility of the Egyptian stock market," the index provider said in a statement.

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