Egypt's benchmark index rose 1.5 percent on Monday after President Mohamed Mursi curbed the army's powers and retired the country's two top generals, removing the biggest challenge to his authority six weeks after he took office.
Equities rallied after Mursi won a presidential vote in June but the lingering influence of the military has prolonged more than a year of political uncertainty that stymied investment and left the economy floundering.
Some analysts said the absence of a strong reaction from the military leadership since Mursi moved on Sunday to wrest key constitutional and legislative powers from the military suggests it has acquiesced.
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