Egypt Shares Drop to Two-Year Low on Clashes; T-Bill Yields Rise
This article is for subscribers only.
Egyptian shares tumbled to the lowest level in more than two years, led by EFG-Hermes Holding SAE, after clashes between Muslims and Christians in Cairo killed at least nine people.
The yields on the Ministry of Finance’s treasury bill sale rose to the highest in more than two years. EFG-Hermes, the country’s biggest publicly traded investment bank, declined the most in almost two weeks.The EGX 30 Index retreated 1.2 percent to 4,878.41, the lowest level since April 2009, at the 2:30 p.m. close in Cairo. The measure has plunged 32 percent this year as a popular revolt led to the ouster of President Hosni Mubarak in February.