Egypt's main index inches lower as
investors hold off buying on speculation that the country's
ruling military council could hasten a handover of power to
civilians.
The index, which has rallied since a largely peaceful
parliamentary election concluded this month, is down 0.2 percent
at 4,524 points.
Egypt's civilian advisory council is due to meet this week
with the military to assess the political situation after
protests demanding a swift end to military rule. The ruling
generals are pledging for now to stand aside by mid-year.
"There's an air of opportunity that seems to be washing over
the market during this period. One of the catalysts is the
expected proposal of the advisory council regarding a handover
of power ahead of the scheduled date," says Chamel Fahmy of
Pharos Securities.
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