DJI 15,615 +0.45% | S&P 1,761 +0.29% | NASDAQ 3,922 +0.06% | EGX30 6,186 +0.08% EGYPT POLITICS - We are committed to work and we will continue our cooperation with the interim government, Kerry told a joint news conference with Egyptian foreign minister Nabil Fahmy, urging inclusive, free and fair elections. The top US diplomat said Washington believed the US-Egypt partnership will be strongest when Egypt is represented by a democratically elected government. On another note, Al Nour Party announced reaching consensus agreement over article 219 that describes the Islamic Sharia, in a sign the constitution committee will probably stay within the time frame assigned. EGX – EGX30 maintained a flat trend throughout yesterdays session in a very tight range on thin vols. Expecting the same pattern to prevail at least for the first part of the session as investors will be eyeing Mursis trial and potential responses from supporters on the ground. The trial will not be aired live, but parts of it will be aired later. The trial is widely expected to remain in courts for months (more like years) so the current suspense is mainly directed towards response on the street. EGX30 remains under pressure from the resistance @ 6,300.
Posted on: Mon, 04 Nov 2013 07:37:09 +0000
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