Sunday, 18 August 2013

MIDEAST STOCKS-Egypt tumbles 3.9 pct after bloodshed | Reuters

MIDEAST STOCKS-Egypt tumbles 3.9 pct after bloodshed | Reuters:

"* Largest one-day drop in four months

* Index breaks major technical support

* Petchems push Saudi Arabia to 59-month high

* Dubai's Union Properties soars 11 pct

* Oman posts eighth straight gain

By Nadia Saleem

DUBAI, Aug 18 (Reuters) - Egypt's bourse suffered its largest one-day drop in four months on Sunday after hundreds of people were killed in a crackdown by the army-backed government on supporters of the Muslim Brotherhood.

Cairo's main index tumbled 3.9 percent to 5,335 points. It had dropped 1.7 percent on Wednesday, when security forces started taking action to disperse protesters, and was shut on Thursday because of the violence.

The market traded for three hours on Sunday instead of the usual four, to give time for people to return home before a curfew."

'via Blog this'

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