Sunday 27 May 2012

STOCKS NEWS MIDEAST-Egypt index drops on concern over election outcome - Yahoo! News Maktoob

Egypt's main index tumbles 2.7 percent after two of the most divisive contenders in Egypt's presidential election
emerged as the most likely to face one another in next month's run-off vote.
State television said the Brotherhood's Mohamed Mursi led this week's vote with 26.4 percent against 23 percent for ex-air force chief Ahmed Shafiq, deposed President Hosni Mubarak's last prime minister, according to preliminary results.
"Some investors are afraid that because we now have the two extreme elements confronting one another, then the coming period will not be calm," says Osama Mourad, CEO of Arab Finance Brokerage.

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