CAIRO, July 21 Egypt will lengthen trading hours
on its stock exchange and reinstate pre-trading from Aug. 7, it
said in a statement on Monday, as it looks to normalise
activities following the turmoil of recent years.
The trading session will be extended by 30 minutes to
four-and-a-half hours, plus half an hour of pre-trading.
Share prices will be allowed to move up or down by 10
percent in pre-trading before being suspended in addition to the
10 percent permitted during regular trading, it said - still
just half of the 20 percent limit applied before 2011.
The financial regulator suspended pre-trading and imposed
tighter limits on daily share price moves when the stock market
was jolted by the outbreak of street protests in early 2011 that
led to the toppling of President Hosni Mubarak.
More than two years of civil turmoil followed, scaring off
foreign investors and tourists - key sources of income and
foreign currency for the Arab world's most populous country.
The new trading hours send a clear message that Cairo's
bourse had recovered from the events of recent years, the head
of the stock exchange, Mohamed Omran, said.
(Reporting By Ehab Farouk; Writing by Shadia Nasralla, editing
by John Stonestreet)