Egyptian stocks plunge more than 10 pct

 
on January 28 2011 7:04 AM

Egyptian stocks plunged more than 10 percent on Thursday, the second biggest one day drop in its history, following two days of clashes between police and anti-government demonstrators which left six dead.

The EGX 30 index plunged 10.52 percent to 5,646.50. So far the index has declined around 20 percent in the last three days.

Earlier Thursday morning, the stock market was suspended as the index fell 6.2 per cent to 5,916.74 points within 15 minutes after the opening bell. The index has lost 6.1 percent on Wednesday.

Meanwhile, the broader EGX 70 plunged 15.42 percent and EGX 100 slumped 14.02 percent. The stock market has lost more than $10 billion and the total market capitalization reached to LE 406.9 billion.

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