Monday, 9 July 2012

Egypt index tumbles 5.5 pct after parliament ordered reconvened | Reuters

Egypt's benchmark stock index plunged 5.5 percent in early trade on Monday after the country's new president ordered parliament to reconvene, challenging the authority of the military which had ordered it dissolved.

The index had fallen to 4,633 points as of 10:40 a.m. (0840 GMT). At least half of the index's 30 stocks were suspended for half an hour after they fell by more than the 5 percent allowed under exchange rules.

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