Arab Today, arab today egypt stocks surge after election results
Last Updated : GMT 04:33:33
Arab Today, arab today
Arab Today, arab today

Egypt stocks surge after election results

Arab Today, arab today

Arab Today, arab today Egypt stocks surge after election results

Cairo - Arabstoday

Egyptian shares made their largest one-day gain in more than nine years after the Mohammad Mursi was named as the country’s first freely elected president, while most Gulf markets slipped amid weak global cues. Cairo’s index surged 7.6 percent, its largest single-day rise since February 2003, after Mursi’s win was announced Sunday, which boosted hopes for a violence-free transition from army rule. Monday’s rally is also the fourth biggest gain in the index’s 14 year history. Traders, however, were cautious, saying the market euphoria could quickly evaporate if the new president cannot form a government with broad political support. “I wouldn’t judge the market on one day. Let’s wait for the rest of the week. One more speech and the market could drop,” said Osama Mourad, CEO of Arab Finance Brokerage. The market fell 10 percent over the course of the election on fears it could be derailed or marred by violence. But voting and the announcement of Muslim Brotherhood’s Mursi’s win against Ahmad Shafiq, ousted leader Hosni Mubarak’s last prime minister, passed off peacefully. “The market is celebrating the lack of violence around this result,” said Mourad. “The market was afraid of clashes on the streets.” Meanwhile, in Saudi Arabia, the index fell 0.9 percent in its third straight loss as weak global markets and declines in crude oil prices weighed on sentiment. It trimmed year-to-date gains to 4.1 percent, losing most of the 23.8 percent surge during January and early April. “The news internationally continues to be bad and there are demand concerns from Western and emerging markets, which are causing investor fear,” said Mohammad Faisal Potrik, research analyst at Riyad Capital. Equities hit a one-week low and Spanish borrowing costs rose Monday as investors worried that policymakers at a European summit this week would make little progress in solving the debt crisis that is hurting international economic growth. Brent crude oil fell briefly below $90, with concerns about faltering global growth hitting investor confidence. From TheDailyStar

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt stocks surge after election results Arab Today, arab today egypt stocks surge after election results

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%

GMT 13:22 2017 Wednesday ,22 February

Canadian stock market closes at record high

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday