Trump says ceasefire in Syria is holding despite few skirmishes    Johnson faces perilous Brexit ratification after Brexit deal vote blocked    China's economic growth could fall below 6% in 2020: IMF    Salah returns to Liverpool's trainings on Monday, says Egypt's coach    Lebanon set to cut ministers' pay in bid to defuse protests    Banks weigh on Saudi stocks ; other Gulf mixed    Match abandoned in latest blow to Mexican football    Tennis: Murray beats Wawrinka to win first title since hip surgery    Spanish PM to visit Barcelona, criticises regional chief    EBRD bank praises Egyptian reforms efforts – official    Sisi: Russia-Africa Summit reflects historic friendship ties    Parliament committee to address problem of stray dogs in Egypt    Shell Egypt to sell assets in Western Desert to focus on offshore exploration    WHO hails 'triumph' as Ebola vaccine gets European green light    Current and ex smokers may lower lung cancer risk with exercise    Lebanon agrees final budget with no taxes to appease protesters    Egypt's Sisi praises SCC's role in protecting justice, rights, freedoms    France's President Macron receives Egypt's Coptic Pope Tawadros II at Elysee    Egypt inks deal with Euroclear Bank to upgrade public debt management    Egypt's Cooperative Insurance Society to cover NGOs clients' loans    After a young pupil dies of meningitis in Egypt, tips to help prevention    Egypt's PM urges US's ADTRAN Inc. to invest in communications equipment    French President Macron receives Egypt's Coptic Pope Tawadros II at Elysee    'Passports should be valid for six months,' Egypt's foreign ministry advises citizens planning travel abroad    Grand Nile Tower Arts & Cultural Centre launches second round    Egypt's coach Hossam El-Badry satisfied with winning start despite technical problems    Luxor's new discoveries    Moroccan film Nomades scoops awards in Alexandria Film Festival    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Farwell to Egyptian comic actor Talaat Zakaria    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Egypt's indexes fall to multi-year lows as protests weigh in
Published in Amwal Al Ghad on 22 - 09 - 2019

Egypt's main index EGX 30 plunged on Sunday to multi-year intraday lows after small yet rare protests against President Abdel Fattah al-Sisi, broke out over the weekend.
Hundreds of people on Friday protested in central Cairo and several other Egyptian cities against Egyptian president, responding to an online call for a demonstration against government corruption.
Protests have become very rare in Egypt since a broad crackdown on dissent under Sisi, who took power after the overthrow of the former Islamist president Mohamed Morsi in 2013 following mass protests against his rule.
“It is definitely due to the small escalation over the weekend, which is making investors cautious," said Ashraf Akhnoukh, director at Arqaam Capital in Cairo, told Reuters.
The sellers were mostly locals and Arab investors as foreign investors were not trading on a Sunday, he added.
Indexes
The benchmark index fell 5.3 percent in its biggest single-day fall since mid-2016 as all its stocks slipped into the red. It close at 13,958 points.
The broad ranged EGX 100 index sank 5.7 percent, the most since November 2012, with 95 of 100 stocks dropping, causing trading to be suspended due to a 5 percent swing for the first time since 2016.
Sustainability index S&P/EGX ESG also dived 7.38 percent to 2,026.29 points.
The fixed-weighted index EGX 30 Capped plummeted 6.06 percent to 16,804.3 points.
Meanwhile, the EGX70 index dropped 5.66 percent to 509.02 points.
Market Cap
Market capitalisation registered its biggest ever intraday losses of 35.7 billion Egyptian pounds ($2.2 billion), closing at 702.302 billion pounds on Sunday.


Clic here to read the story from its source.