"Egyptian shares fell to the lowest in more than 10 months on investor concern anti-government protests will gain momentum as President Mohamed Mursi marks the first anniversary of his election.
The benchmark EGX 30 Index lost 2.9 percent to 4,775.92, the lowest level since July 30, at the close in Cairo. The gauge tumbled 12 percent in the last seven days, the longest losing streak since November 2011. Commercial International Bank Egypt SAE, the country’s biggest publicly traded lender, fell 4.1 percent and EFG-Hermes Holding SAE plunged to the lowest in eight years. Benchmark dollar bonds dropped.
A group of mostly secular activists calling for the resignation of Mursi said it collected 13 million petitions for the cause, Al Arabiya.net said. The group known as Tamarrod, the Arabic word for rebellion, is vowing nationwide demonstrations on June 30, the one-year anniversary of Mursi taking office, setting up a possible confrontation with his Islamist backers."
'via Blog this'
No comments:
Post a Comment