Market Update: Egypt stocks down 3.2 pct near Sunday close as elections stoke fears

Ahram Online, Sunday 27 May 2012

Egypt's stocks are tumbling further, the benchmark EGX30 down 3.16 per cent at 4,816 points an hour before the close of Sunday's session.

The broader EGX70 is down an almost equal 3.15 per cent.

Unofficial voting tallies on Friday revealed the Muslim Brotherhood's Mohamed Morsi is likely to face former Mubarak prime minister Ahmed Shafiq in a mid-June runoff for the presidency -- a showdown described by some as a "nightmare scenario."

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