Egypt Bourse Chief Rules Out Taking New Precautionary Measures

Following early and midday losses, Egypt’s bourse chief has ruled out adopting any further precautionary measures within the current period which is witnessing political stalemate as violence erupted between pro-and-anti-regime protests Tuesday evening.

On Wednesday, Egyptian bourse has lost EGP 4.2 billion by the opening session; while it managed to pare its losses to EGP 3 billion by the midday. The investors are in a state of apprehension about the army’s 48-hour deadline which is about to end today afternoon.

Egyptian Exchange’s newly-appointed Chairman Mr. Atef Yassin El-Sherif has excluded the adoption of any extra precautionary measures to prevent encountering more losses. Mr. El-Sherif asserted that stock market’s opening and midday losses were battered by the recent political developments in the country.