Egypt’s stock market will resume trading on March 1 after a suspension of more than a month amid a popular revolt that toppled President Hosni Mubarak’s 30-year- old regime.
Prime Minister Ahmed Shafiq replaced the head of the Egyptian Financial Supervisory Authority and approved changes to trading rules aimed at limiting possible losses when the market reopens, the North African country’s Cabinet said in a statement today.
Egypt’s benchmark EGX 30 stock index slumped 16 percent in the week that ended Jan. 27. The Egyptian Exchange suspended margin trading and put in place a 10 percent circuit breaker on the daily price movement of shares, it said last week.
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