Investors gear up for Egyptian stock market’s reopening after nearly 2-month closure

[JanDutchy]

Source: Associated Press

Tuesday, March 22, 10:51 AM
CAIRO — Egypt’s stock market is poised to reopen Wednesday after a nearly two-month closure triggered by the unrest that toppled Hosni Mubarak, and analysts expected steep losses in a reflection of shaken investor confidence.

The relaunch of the Egyptian Exchange comes after the prime minister accepted the resignation of the market’s chairman and appointed a new, temporary head. The move was the latest step by officials to try to ensure a smooth first few days of trading on a market whose restart was delayed several times amid fallout from the Jan. 25 uprising and ensuing labor unrest.

The decision to reopen the market was based on “taking all required procedures to guarantee its safety opening and trading,” said a statement posted on the Egyptian Cabinet’s website.


Read more: http://www.washingtonpost.com/business/investors-gear-up-for-egyptian-stock-markets-reopening-after-nearly-2-month-closure/2011/03/22/ABlHocBB_story.html

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