"Egypt’s stocks surged the most in a year after the military gave President Mohamed Mursi until tomorrow to find a solution to the political impasse. Bond yields declined from records.
Enlarge image
Rifts between the Islamist president and his opponents have reached a climax as Mursi completed his first year in office - a year his detractors paint as one of turmoil, deepening poverty and sectarian violence. Photographer: Khaled Desouki/AFP via Getty Images
The EGX 30 Index (EGX30) jumped 4.9 percent, the most since last July, to 4,986.81 at the close in Cairo, paring the gauge’s 2013 drop to 8.7 percent. All 30 stocks rose, with Commercial International Bank Egypt SAE (COMI) soaring 8.8 percent. The yield on $1 billion of benchmark 5.75 percent bonds due 2020 fell six basis points to 10.23 percent at 5:28 p.m. in Cairo, while notes due 20 years later yielded 9.89 percent, down 22 basis points."
'via Blog this'
No comments:
Post a Comment