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Business / Middle East Business

Egypt stock market stays weak

Published: 23 Jun 2015 - 03:52 pm | Last Updated: 12 Jan 2022 - 03:08 pm

 

Cairo-- Egypt's bourse remained soft. The index slid 0.3 percent, with real estate firm Talaat Mostafa remaining one of the main targets of selling; it fell 3.4 percent.

The market's failure to stage a sustained rise after the government suspended a capital gains tax in mid-May has disappointed investors.

Major brokerage Pharos Securities issued a report on Monday saying the market appeared to have been forming a peak since September and October 2014, and that there was a sizeable risk of a "significant market decline in the near future".

REUTERS