"Egypt’s benchmark stock index fell 5.17 per cent on Wednesday after reports that Morgan Stanley would consider removing the economically battered nation from its basket of emerging market indices.
It was the biggest daily drop in months and underlines the market’s nervousness since Egypt’s February 2011 revolution and subsequent economic malaise. The benchmark EGX30 index is down 15.8 per cent this year.
Ten months ago, investors were gleeful about the performance of Egyptian equities, which had rebounded after the 2011 revolution on optimism generated by the country’s first-ever democratic election."
'via Blog this'
No comments:
Post a Comment