Egyptian shares dropped to the lowest level in more than two years and the country’s default risk rose after clashes between Christian demonstrators and security forces in Cairo left dozens dead.
The benchmark EGX 30 Index declined 2.3 percent to 3,938.02 at the 2:30 p.m. close in Cairo, the lowest level since March 2009. The measure tumbled as much as 5.2 percent earlier today. Orascom Construction Industries, the country’s biggest publicly traded builder, lost 3 percent. Citadel Capital SAE closed at the lowest since listing in December 2009.
At least 36 people died as violence broke out last night between protesters from the Arab country’s Christian minority, and police and army forces, Al Arabiya reported today, citing the Health Ministry. The protesters were demonstrating against a recent attack on a church in Egypt’s southern city of Aswan.
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