Investors hoping that Hosni Mubarak’s resignation as Egypt’s president might bring an early resolution of the country’s political crisis will be disappointed.
As ft.com reports Egypt’s military over the weekend has taken firmer control of the country – while reassuring protestors of its commitment to democratic transition. But elections won’t come for six months – so there will be plenty of time for the ebbs and flow of political uncertainty. And those planning to trade on the Cairo bourse must wait a few more days. the re-opening of the stock exchange has been delayed until Wednesday.
In its first significant move since Mubarak’s resignation on Friday, the supreme council of the military, now the ruler of the land, on Sunday set a timetable for the transition and said a committee would be appointed to examine constitutional amendments, report FT correspondents in Cairo. The move met some but not all of the demands of the protest movement. ftcom said:
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