Investors in Egypt are expected to remain very cautious and trading turnover thin on Thursday following news that the interim government has authorised police to break up protests which have been continuing since Mohamed Morsi was removed from power.
Cairo's benchmark index has been trading sideways since a 20 percent rally around the time of Morsi's ouster in early July.
Recent trading patterns show investors can accept a certain level of violence as long as they believe a transition back to civilian rule is still underway, and many are reluctant to sell stocks in case some form of accommodation can be reached with Morsi's Muslim Brotherhood in coming weeks.
[Reuters]
Cairo's benchmark index has been trading sideways since a 20 percent rally around the time of Morsi's ouster in early July.
Recent trading patterns show investors can accept a certain level of violence as long as they believe a transition back to civilian rule is still underway, and many are reluctant to sell stocks in case some form of accommodation can be reached with Morsi's Muslim Brotherhood in coming weeks.
[Reuters]
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