Egyptian shares slump after post vote unrest.
Renewed unrest and the prospect of a divisive presidential run off have seen shares drop the most since March according to Bloomberg and Dow Jones.
Source : https://www.marocafrik.com/english/Egyptian-shares...
Leading holdings such as Talaat Moustafa Group Holding and Orascom Telecom Holding SAE have fallen sharply as the two candidates Mohamed Mursi of the Muslim Brotherhood and Ahmed Shafiq prepare for the presidential run off. Egypt is seen as having returned to square one with the Islamists facing a candidate representing the old order as a former Prime Minister and associated with the military as a former Air Vice Marshal.
Ahmed Shafiq's headquarters were attacked last night and set on fire and some protestors returned to Tahrir Square saying it was the last chance to save the revolution.
Some investors still have an appetite for risk. Last week France Telecom acquired 94 % of Naguib Sawaris's Mobinil. Egypt's population is now over 80 million and mobile subscriptions grew by 25 percent to 91.1 million in the year to March, government figures showed,according to The Guardian. Naguib Sawaris keeps 5 % of Mobinil whose main cometitor in the Egyptian market is Vodafone.
Ahmed Shafiq's headquarters were attacked last night and set on fire and some protestors returned to Tahrir Square saying it was the last chance to save the revolution.
Some investors still have an appetite for risk. Last week France Telecom acquired 94 % of Naguib Sawaris's Mobinil. Egypt's population is now over 80 million and mobile subscriptions grew by 25 percent to 91.1 million in the year to March, government figures showed,according to The Guardian. Naguib Sawaris keeps 5 % of Mobinil whose main cometitor in the Egyptian market is Vodafone.
Source : https://www.marocafrik.com/english/Egyptian-shares...