CAIRO: Egyptian stock market officials said on Monday they have again delayed the reopening of the exchange, which has been closed for over a month due to the political turmoil and massive demonstrations that led to the ouster of Egypt's former president, Hosni Mubarak. The Egyptian Exchange had been slated to resume on Tuesday but a statement sent overnight by the exchange said it would remain closed until 6 March. The exchange officials say the delay was to “allow investors to profit from the government's support to guarantee stability in the bourse.” The market's benchmark stock index fell almost 17 per cent in two consecutive trading sessions before the market closed on 27 January. Egyptian banks, most of which were also closed over the three-week uprising in Egypt, reopened last Sunday. According to a report from the Global Arab Network, Egyptian banks together have opened basic commodities-related credits worth over U.S. $1 billion. BM
