Egypt's stock exchange to lift limit on share price moves to 20% from September


The stock exchange currently limits moves in share prices to 10% either up or down, after which the share is suspended. (File pic shows an Egyptian trader working on her computer at the Cairo Stock Exchange. - AFP

CAIRO: The Egyptian Stock Exchange will lift the limit on intraday share price moves to 20% from September, the bourse said on Sunday.

The stock exchange currently limits moves in share prices to 10% either up or down, after which the share is suspended.

The 10% limit has been in place since February 2011 under measures introduced by Egypt's Financial Regulatory Authority to protect the financial market from violent fluctuations after the uprising that ended the rule of President Hosni Mubarak.

Prior to then the limit had been 20%.

All other precautionary measures introduced in 2011 were repealed in 2014, including a pre-opening session to determine opening prices.- Reuters

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