Egypt

Stock market to close for Easter holidays

The Egyptian stock market will close on 24 and 25 April for the Easter holidays, according to a statement released by the Egyptian stock exchange.

This will be the first suspension of trading since the exchange resumed business on 23 March, following 55 days of suspension because of the 25 January revolution.

The stock market's benchmark index dipped 3.17 percent at the close of trading on Monday, representing the second consecutive day of losses.

Stock brokers are attributing the decline to heavy selling by investors as an increasing number of businessmen are being summoned for investigation or imprisoned in corruption cases.

Trading will be resumed on 26 April.

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