MIDEAST STOCKS-Egypt slips amid FX uncertainty, Saudi soft | Reuters:
"Egypt's stock index dropped 0.9 percent in early Monday trade as uncertainty over the country's foreign exchange policy persisted, while the Saudi market edged down.
Egyptian stocks had risen 0.8 percent on Sunday as Tarek Amer, a well-regarded former commercial banker, took over the post of central bank governor. Investors hope he can resolve Egypt's foreign exchange shortage and smoothly manage the devaluation which many think is inevitable.
But there was no indication after Amer met with his officials on Sunday of what strategy the central bank will adopt, leaving traders guessing. Weak Asian stock markets on Monday also dampened sentiment in Egypt."
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