Egypts benchmark stock index tumbled over 3 percent on Monday, pulling the market lower for a second consecutive day as investor worries mounted that an investigation into the head of a leading Mideast private equity firm signaled a major widening in anti-corruption probes.
The Egyptian Exchanges benchmark EGX30 was off 3.2 percent by 1:15 PM. Cairo time, building on the previous days 3.43 percent decline.
The drop pushed the indexs year to date losses to over 30 percent – a clear reflection of the crisis of investor confidence confronting the Arab worlds most populous nation in the wake of the uprising that ousted former President Hosni Mubarak.
No comments:
Post a Comment