Egypt to reopen stock market after 2-month closure

AP News
|
Posted: Mar 22, 2011 7:38 AM
Egypt to reopen stock market after 2-month closure

Egyptian investors are bracing for the expected reopening of the country's stock market that was shuttered for almost two months because of the protests that toppled Hosni Mubarak's regime.

The Egyptian Exchange was expected to open on Wednesday, following a decision on Tuesday by the prime minister. Analysts believe that most, if not all, companies will see their share prices hard hit as investors have their first chance to weigh in with their money on the developments that have reshaped the country's political landscape since the uprising began on Jan. 25.

The exchange closed on Jan. 27, sealing two days of consecutive losses that brought the market down by slightly over 16 percent.