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Egypt shares down on concerns over Mubarak’s health

Benchmark index down 3.84 percent; Egyptian President said to be doing well after undergoing surgery.

March 15, 2010 6:32 by

Egypt’s benchmark index the EGX30 fell by 3.84 percent on Monday following concerns over the health of president Hosni Mubarak.

Mubarak, 81, had gallbladder surgery on March 6, and is said to be recovering well. However, persistent rumors about the seriousness of his condition have hit the Egyptian stock exchange.

Some traders say the market is unlikely to recover until the president appears on TV, according to press reports.

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