The Egyptian Exchange halted stock trading for half an hour Sunday morning because of an unusually sharp move in the market, it said. (REUTERS/Mohamed Abd El Ghany)
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Egypt's benchmark EGX 30 Index fell the most in a year after the government said it was preparing a levy on investor profits.The Abu Dhabi Securities Market General Index declined 1.8 percent in the final trading session before the United Arab Emirates and Qatar are upgraded to emerging markets status by index provider MSCI Inc. National Bank of Abu Dhabi PJSC dropped 6.7 percent, the most since December 2009, to 16.1 dirhams ($4.38).Abu Dhabi's index is trading at 14.3-times estimated earnings for 2014, while gauges in Dubai and Qatar are at 18-times and 14.7-times respectively, data compiled by Bloomberg show.Saudi Arabia's Tadawul All Share Index rose 0.5 percent and Qatar's QE Index was little changed. Israel's benchmark TA-25 index advanced 0.2 percent to 1,395.85, while the yield on the benchmark 3.75 percent bond due 2024 added three basis points to 2.93 percent.
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