Market Update: Egypt stocks leap after Morsi takes office

Ahram Online, Monday 2 Jul 2012

Egypt's benchmark index jumped 4.7 per cent in the first few minutes of trading on Monday following newly elected President Mohamed Morsi's assumption of office over the weekend.

Several stocks were suspended for half an hour after they rose above the maximum 5 per cent allowed by exchange rules.
Mursi was sworn in on Saturday as the country's first Islamist, civilian and freely elected president.
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