26 November 2012

Egypt: ESE Loses LE29.3 Billion, 3rd Highest Loss in History

The Egyptian Stock Exchange (ESE) recorded the highest third daily losses in its history at the closing of trading on Sunday with its market capital losing LE29.3 billion.

The losses were prompted by tension in the country and the escalation of the situation after some political powers had rejected the constitutional declaration issued by the president on Thursday 22/11/2012 as well as sales of Egyptian investors and Arab and foreign inventor's purchases.

The EGX 30 benchmark index dropped down by 9.59 per cent to close at 4,917.73 points. The broader EGX 70 index of the leading small and medium sized enterprises (SMEs) also went down by 8.14 per cent, reaching 441.76 points.

The overall EGX 100 index followed suit with 8.7 per cent, taking the index down to 736.49 points.

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