Egyptian Bourse, Banks Will Be Closed Today, State TV Reports
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The Egyptian bourse will be closed today following clashes yesterday between thousands of protestors and police in central Cairo, the fifth day of unrest. Banks also will be shut, State TV said.
The North African country’s benchmark stock index had tumbled 16 percent in the prior two trading days, and Egypt’s dollar-bonds fell, pushing yields to record highs on Jan. 28. Fitch Ratings said it may cut the nation’s credit rating. The exchange is North Africa’s second-largest market by capitalization after Morocco.