Egypt's benchmark stock index closed moderately higher on Tuesday, the third consecutive day of gains, while the trading of shares of several major blue chip companies was temporarily halted after they triggered safeguards aimed at cooling the market.
The Egyptian Exchange's benchmark EGX30 index closed 3 percent higher. The index had closed up 0.75 percent on Monday, giving back much of its the gains it recorded earlier in the day as buyers stepped back to reassess the market. The gains over the week have pared down its year-to-date losses to around 24 percent.
The exchange's acting chairman, Mohammed Abdel-Salam, said the market has been performing well since it was relaunched on March 23, nearly two months after trading was halted amid protests that ousted former President Hosni Mubarak.
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