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Market Vectors Egypt Index ETF (EGPT)

  • Jun. 9, 2011, 11:29 AM
    Egyptian shares, +1.3%, get some good news in the form of the cancellation of a proposed tax on dividends. Stocks dropped about 2% earlier this month when the measure was first floated. EGPT has rallied about 10% over the 30 days.
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  • May 12, 2011, 5:10 PM
    Egypt officially turns to the IMF for a loan to cover a government deficit expected to reach 10% of GDP next year. The country will need $12B to get through the end of 2012. After some wild gyrations while Egypt's stock market was closed, EGPT has cooled off, now near its lows of the year.
  • Mar. 27, 2011, 9:16 AM
    Egyptian shares surge as they reverse steep declines from last week, when the stock exchange reopened following a two-month hiatus. Previously cautious investors are returning to the market, sending the EGX 30 +5.3% in afternoon trading.
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  • Mar. 24, 2011, 7:50 AM
    Following a 9% drop yesterday, Egyptian shares fall a further 6.8% in their 2nd day of trading after reopening for business. Premarket: EGPT +4.2% as the curious meanderings of this ETF continue. This is the deep end of the pool - unless you're Mark Spitz, use caution.
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  • Mar. 23, 2011, 10:55 AM
    In a strange twist, the Egypt ETF (EGPT -7.4%) was halted earlier today even as actual Egyptian shares began trading for the first time in nearly 8 weeks. Now resumed, EGPT continues to bleed away the premium to NAV it acquired during the Egyptian market's closure.
  • Mar. 23, 2011, 7:15 AM
    Egyptian stocks are trading again after circuit breakers halted activity with shares down  9.9% moments into the first session in nearly 8 weeks. A local investment firm is bracing for a 25% fall over the coming weeks, bringing the PE ratio of the market to just 7,
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  • Mar. 22, 2011, 12:26 PM
    The Egypt ETF (EGPT -5.4%) is selling off sharply for a 2nd day. With Egyptian shares about to start trading again, could investors be blowing out of an ETF which is selling at nearly a 20% premium to NAV?
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  • Mar. 21, 2011, 11:15 AM
    After being closed since January 27, the Egyptian stock exchange finally looks set to reopen on Wednesday. Officials' acceptance of the reality that it's okay for stocks to fall appears to be the last stumbling block to have been removed. EGPT -2.5%.
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  • Mar. 7, 2011, 2:57 PM
    The prolonged closing of Egypt's stock market (not to mention its recent annoying habit of going down a lot) means its shares may be removed from the MSCI Emerging Markets Index (EEM -1.4%). Discussions will begin on March 24, which would be the 40th day of closure.
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  • Mar. 1, 2011, 8:10 AM
    Apparently worried that share prices might fall, Egypt postpones today's planned reopening of its stock market. The new date is March 6 (for now). EGPT -0.2% AH after -5.2% in yesterday's regular session.
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  • Feb. 28, 2011, 2:12 PM
    Egypt's stock exchange is scheduled to reopen tomorrow. An initial surge in EGPT after the bourse's close discounted a massive rally in Egyptian shares, but the ETF has given back most of those gains, and regulators now worry about panic selling once trading reboots in Cairo. Today, EGPT -5.7%.
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  • Feb. 28, 2011, 9:55 AM
    "Despite all the horrible things happening ... this revolution strikes me as being essentially rather bullish," says Goldman's Jim O'Neill. "MENA (Middle East/North Africa) has the combined potential to be a BRIC-like economic group." ETFs: MES, FRN, AFK, PMNA, GAF, GULF, FFD.
  • Feb. 27, 2011, 2:20 PM
    Egypt bans the export of all gold, including jewelery. "This decision, which comes in light of the exceptional circumstances the country is passing through... is to preserve the country's wealth until the situation stabilizes," official news agency MENA says.
  • Feb. 24, 2011, 8:22 AM
    The exiled leader of Bahrain's Haq opposition is arrested in Lebanon while trying to travel back to his home country. Charged with participating in a coup attempt, Hassan Mashaima was recently pardoned by the King in accordance with protester demands.
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  • Feb. 24, 2011, 7:29 AM
    Fleeing Egyptians, now accused by Qaddafi’s son of inciting the unrest, bring more tales of carnage taking place in Libya. "The mercenaries are in the streets and they’re killing anyone who leaves his house," says one man whose family is trapped in Tripoli.
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  • Feb. 23, 2011, 2:29 PM
    Calling events in Libya a "positive earthquake," Gaddafi's son, al-Saadi expects his dad to stay on as "big father" to any new regime. Libyans will be happy to know that another of Gaddafi's sons is working on a new constitution. Bombardments have been necessary, says al-Saadi, to thwart al-Qaeda, which seeks to take control in the Eastern region.
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EGPT Description
The Egypt Index ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Egypt Index.
See more details on sponsor's website
Country: Egypt
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