"Egyptian shares posted their largest one-day percentage gain in more than a year on Thursday after the army ousted former president Mohamed Mursi and an interim president was sworn in.
Cairo's index rose 7.3 percent, trimming its year-to-date losses to 2.3 percent. It was the biggest one-day surge since June 25, 2012, the day after Mursi was declared the country's first democratically elected president.
This week's rebound has erased sharp losses during June that were triggered by severe political unrest. Although the country still faces huge political and economic challenges, many investors feel Mursi's ouster could lead to a more technocratic government which addresses issues such as a sliding currency and ballooning state budget deficit."
'via Blog this'
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