Egyptian stocks dip after outbreak of anti-Sisi protests

Demonstrators in other major cities also joined in the protests against former general-turned-President Abdel Fattah al-Sisi
Egyptian stocks dip after outbreak of anti-Sisi protests

The Cairo stock exchange declined Monday for a second straight day after anti-government protests held in Egyptian cities in defiance of a ban on public rallies.

The main EGX30 index fell 1.5 per cent on top of a slide of 5.3 per cent on Sunday. The hardest hit have been shares in the banking sector.

Protests erupted in Cairo and the port city of Suez on Friday and Saturday for the first time in three years, spurred by discontent over rising prices.

Demonstrators in other major cities also joined in the protests against former general-turned-President Abdel Fattah al-Sisi.

Security forces using tear gas and making arrests quickly dispersed the rallies by hundreds of demonstrators.

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Egypt passed a restrictive anti-protest law in 2013 after the military’s overthrow of Islamist president Mohamed Morsi and a renewable state of emergency remains in force.


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