print logo

Al-Arabiya: How will Egypt’s stock market react to recent bombings?

Recent worldwide events, including the Istanbul bombing, will shield the Egyptian stock market from any potential repercussions of the church bombing.
13.12.16 | Interesting article at Al-Arabiya

The bombing of a Cairo church on Sunday will have a minor effect on this week’s Egyptian stock market trading despite the severe losses forecast for Monday, analysts told AlArabiya.net.

Egypt’s stock market started trading on Monday with a minute’s silence to honor the lives of 25 Copts, who died as a result of blast that rocketed Saint Mark’s Church during a Sunday mass.

According to Amani Abdul Motaleb, Head of Brokerage at Team for Stock Exchange, collective selling anticipated for Monday will lead to losses on individual stocks, but a more limited drop will show during session starting Tuesday.

Nonetheless, recent worldwide events, including the Istanbul bombing, will shield the Egyptian stock market from any potential repercussions of the church bombing.

On Saturday, 39 people were killed following an explosion outside a football stadium in Istanbul.