Egyptian stock market reopening delayed further

A statement on Monday from the Egyptian Exchange says the bourse will not reopen as scheduled on February 16. It says the market will remain closed "until work is back to normal in the banking sector."

Public transportation workers protest in demand of salary raises in front of the national TV building, right, in Cairo, on Monday. Photo: AP.

Officials at Egypt’s stock exchange say the market’s reopening has been delayed until at least Sunday.

A statement on Monday from the Egyptian Exchange says the bourse will not reopen as scheduled on February 16. It says the market will remain closed “until work is back to normal in the banking sector.”

The exchange has been closed since January 28 after its benchmark index lost about 17 percent in two consecutive days of trading following the start of the massive protests that led to the toppling of President Hosni Mubarak.

Mounting strikes in the country have extended to the banking sector, with thousands of public sector bank workers demanding better pay and benefits.