Egypt: investors take flight | beyondbrics

The results of Egypt’s presidential run-off may still be in the balance but investors are already reacting with their cash.

On Monday, the EGX30 index fell 3.42 per cent. On Tuesday, it lost a further 4.23 per cent, back to levels of late January and heading south towards eroding all its gains since the start of the year.

At Tuesday’s close every stock was down, with Talaat Moustafa Group, Egypt’s biggest property developer, leading the way with a fall of 7.55 per cent. TMG makes up 4.69 per cent of the EGX30 index.

* username: rupertbu