Egypt Stocks Advance to Six-Year High Before Poll; Qatar Gains - Bloomberg

Egypt Stocks Advance to Six-Year High Before Poll; Qatar Gains - Bloomberg:



"Egypt’s benchmark index climbed to the highest since 2008 on bets tomorrow’s presidential election will be peaceful. Qatar’s measure surged to a record.



The EGX 30 Index increased 0.4 percent to close at 8,762.86 in Cairo, the highest since August 2008. The gauge has advanced 29 percent this year, more than seven-times the gains for MSCI’s emerging markets index. About 836 million Egyptian pounds ($117 million) of shares traded, compared with a one-year daily average of 579 million pounds. Ezz Steel, the country’s largest publicly traded manufacturer of the metal, rose the most since May 20. Qatar’s QE Index jumped 2.6 percent. 




Former Defense Minister Abdel-Fattah El-Sisi is widely expected to win the vote, and investors are speculating the military’s tightening grip on power will help restore order and boost the economy after three years of unrest. The North African country’s benchmark index, the fourth-best performing this year among more than 90 tracked by Bloomberg, has advanced in nine of the last 11 trading days."



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