Israel, Egypt Lead Mideast Drop on Embassy Attack, Global Slump
This article is for subscribers only.
Israel’s stocks fell to a two-year low and Egyptian shares dropped on concern over Europe’s debt crisis and as tensions between the Middle Eastern states rose after protesters attacked the Israeli embassy in Cairo.
Ampal-American Israel Corp., which has a stake in the company that supplies gas from Egypt to Israel, fell to the lowest level on record. Orascom Construction Industries, Egypt’s biggest publicly traded builder, lost 1.7 percent. The TA-25 Index slumped 3.6 percent to 1,024.93, the lowest since November 2009, at the 4:30 p.m. close in Tel Aviv. The EGX 30 Index declined 1.3 percent, the most since Aug. 21. In the Persian Gulf, the Bloomberg GCC 200 Index declined 0.2 percent.