Egypt's bourse loses 14 billion pounds in first 2 minutes
Xinhua, June 26, 2016 Adjust font size:
Egypt's indices sharply went down at the beginning of the trading session on Sunday prompted by the negative effects of Britain's exit from the European Union (EU) on the world stock markets, Egypt's state-run MENA news agency reported.
According to MENA, the market capital lost 14 billion pounds (about 1.6 billion U.S. dollars) in the first two minutes of the session to hit 378.2 billion pounds against 392.2 billion pounds.
The main benchmark EGX 30 index went down 5.2 percent reaching 6876,16 points.
The broader EGX 70 index of the leading small and medium sized enterprises (SMEs) was down by 2.5 percent recording 339,6 points.
The overall EGX 100 index was down 3.1 percent reaching 723,54 points.
The exit of Britain from the EU has negatively affected global stock markets, with experts expecting that Britain's divorce with EU will paralyze several world, and mainly European, economies for a long period of time. Endit