Delays in reopening for Egypt’s stock exchange

Protests delay opening of stock exchange

Protests delay opening of stock exchange

Despite what has been previously announced, Egypt’s stock exchange will not be reopening on Monday. There has also been no decision made about when it will be open again.

The head of the exchange, Khaled Serri has said that the exchange will remain closed on Sunday and Monday, as anti-government protests continue into their 12th day.

He said “resuming operations of the stock exchange has not been determined yet,” adding that it was all dependant on the development of situation.

Serri also added that 48 hours notice would be given before trading resumes. The bourse was last open on the 27th of January when it closed down almost ten percent, as the protests against President Honsi Mubarak began to intensify.

The decision to postpone the reopening of the bourse was decided after talks with the management, the Egyptian financial supervision and representatives of the traders and brokers.

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