Egypt trading suspended as shares plunge due to coronavirus

·1-min read
A trader works at the Egyptian stock exchange in Cairo

CAIRO (Reuters) - Trading on Egypt's stock exchange was suspended for half an hour on Sunday after Egypt's broader index EGX100 dropped by more than 5%, following government steps to contain the coronavirus, Refinitiv data showed on Sunday.

Egypt said on Saturday it would close schools and universities starting Sunday for two weeks to prevent the spread of the virus as the number of cases reached 110 on Saturday. Two people have died of the virus so far in Egypt.

When trading was suspended shortly after 0849 GMT, Ezz Steel sank by 13.3%, Alexandria Mineral Oils Company (AMOC) dropped 12.8% and Porto Group Holding had fallen by 11.9%

(Reporting by Nadine Awadalla; Writing by Amina Ismail; Editing by Peter Graff and Edmund Blair)

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