Monday 25 June 2012

Egypt's stock index jumps after election result | Reuters

Egypt's benchmark index surged almost 5 percent on Monday after Islamist presidential candidate Mohamed Morsy was declared winner a week after ballots were cast, putting an end to uncertainty over the result.

The benchmark index was up 4.8 percent by 0855 GMT, after the result was announced on Sunday afternoon following the close of the day's trading.

The market had tumbled over the course of the presidential election on fears the vote could be derailed or marred by violence. However, voting and the result announcement passed off peacefully.

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