EGX plunges on Russian flights suspension, equities lose $1B
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) tumbled Sunday, hammered by an investor selling spree after Moscow suspendeded Egypt-bound flights until an investigation into its deadly airliner crash in Egypt’s Sinai is completed.

Hurt by intensive sell-offs from local and foreign institutions, the benchmark index EGX30 dropped 2.58 percent to end at 7,347 points, down from points 7,542 on Thursday.

The small and mid-cap index EGX70 plunged 3.43 percent to close at 383.7 points, compared to 397.3 points in its last session.

Similarly, the broader index EGX100 slipped 2.67 percent to close at 829.8 points after 852.5 points on Thursday.

Market capitalization shed around 8.5 billion EGP ($1.05 billion,) totaling 443.8 billion EGP, compared to 452.3 billion EGP in the previous session.


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