MIDEAST STOCKS-Egypt drops 1.7 pct on army call for mass rallies; Gulf mixed | Reuters:
"Egyptian shares tumbled on Wednesday after the army chief called for mass rallies at the weekend to give him a mandate to confront street violence following the overthrow of president Mohamed Mursi.
At least nine people were killed in Cairo on Tuesday during clashes between opponents and supporters of Mursi. The army chief called for the rallies this weekend in a public address; his strategy of bringing more of his supporters into the streets appeared to risk a further increase in violence, at least in the short term.
"What's driving the panic is the speech by the army - violence will probably escalate on Friday," said Amr Reda, assistant vice-president of the foreign sales desk at Pharos Securities in Cairo. "The Muslim Brotherhood will not stop easily and there will be blood spilt.""
'via Blog this'
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