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Egypt's stock market hit hard amid strikes on Yemen - state agency
A man rests at his desk at the Egyptian stock market in Cairo, November 25, 2012. Egyptian share prices plunge, with the benchmark index losing nearly 10 percent in the first trading session since President Mohamed Mursi ignited a political crisis by expanding his powers. REUTERS/Asmaa Waguih
CAIRO, Mar 26 (Aswat Masriya) - Egypt's stock market fell sharply in early trade on Thursday, after airstrikes conducted by Saudi Arabia and Arab allies against Houthi rebels in Yemen, yet slightly recovered at closing time, the state agency MENA reported.
The benchmark index EGX 30 fell by 2.43 percent in the morning, while the price index EGX 70 fell by 2.34 percent, MENA reported. The bourse's administration halted trade for 30 minutes before resuming.
The benchmark index meanwhile closed at 1.59 percent to 9052.5 points, whereas the price index closed at 1.34 percent to 503.07 points, reported MENA.
Egypt's bourse reached a two-month low on Wednesday, falling 1.8 percent to 9198 points.
Saudi Arabia launched military operations in its conflict-torn neighbour as part of a coalition that includes 9 other countries, the Saudi Ambassador to the United States Adel A. al-Jubeir announced early Thursday.
Egypt announced early Thursday that it is coordinating with Saudi Arabia over preparations to participate with an Egyptian air and naval force in Yemen, "and a ground force if necessary."
