Wednesday, 30 May 2012

MIDEAST WEEKAHEAD-Egypt bourse awaits Mubarak verdict; Gulf cautious | Agricultural Commodities | Reuters

The verdict in the trial of ousted President Hosni Mubarak, due on Saturday, is a new cloud hanging over Egyptian stocks which were hammered this week after the country's two most divisive figures made it to the presidential election run-off.

Mubarak, 84, was charged with graft, abuse of power and ordering the killing of protesters during the 18-day uprising that ousted him on Feb. 11, 2011. Court hearings in the trial concluded earlier this year and the verdict is due on June 2.

A not-guilty verdict would probably work against Ahmed Shafiq, who was Mubarak's last prime minister, in the presidential election run-off but analysts say any violent street protests against such a verdict could work in his favour.

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