Precautionary measures on Egypt bourse to be removed

Egypt's financial watchdogs have decided to remove the remaining precautionary measures that have been imposed on trading on the stock exchange since its reopening in March 2011, a joint statement by the Egyptian Bourse and the Egyptian Financial Supervisory Authority (EFSA) said.

According to the statement, the deactivation of emergency measures will be made after Eid Al-Fitr – the holiday that follows the holy fasting month of Ramadan – as the state is witnessing improved political and security stability.

Price change limits of listed shares during trading will rise from five to ten percent, accordingly trading on those shares will be halted for half an hour and once resumed the limit will be extended to twenty percent, Eissa Fathy, the vice head of the securities division at the Cairo Chamber of Commerce, told Ahram Online.

"The restriction on price limits for small and medium stocks (Nile Bourse) will remain," said the statement.