Egypt’s stock exchange to lift share price limit

The Egyptian stock exchange will raise the limit for intraday share price movements to 20 per cent from September, the stock exchange announced on Sunday. The stock exchange currently limits price movements to 10 per cent up or down, after which the stock is suspended.

The 10 per cent limit has been in place since February 2011 as part of measures taken by the Egyptian financial supervisory authority to protect the financial market from violent fluctuations after the uprising that ended the rule of President Hosni Mubarak.

Previously, the limit was 20 per cent. All other precautionary measures introduced in 2011 were lifted in 2014, including a pre-opening session to determine opening prices.