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Egypt stocks surge after uprising anniversary
After peaceful uprising anniversary, Egypt benchmark stock index in record climb in 10 months
By The Associated Press

CAIRO (AP) ' Egypt's stock market has posted its strongest gains in about 10 months, rallying nearly 7 percent as investors cheered the peaceful passing of the one-year anniversary of the uprising that ousted former President Hosni Mubarak.

The Egyptian Exchange's on Thursday temporarily halted trade after the broader EGX100 index hit a 5 percent circuit-breaker ' a measure aimed at calming the market. The benchmark EGX30 index was up 6.79 percent, to 4,417 points, by about 1:05 p.m. local time.

The gains built on a solid week of advances by the index as the country's newly elected parliament met for the first time on Jan. 23.



There were concerns the anniversary of the Jan. 25 uprising that led to Mubarak's ouster would collapse into violence.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

CAIRO (AP) ' Egypt's benchmark stock index has surged nearly 5 percent, in its strongest one-day showing in months, with investors newly optimistic following the peaceful passing of the one-year anniversary of the uprising that ousted former President Hosni Mubarak.

The Egyptian Exchange's EGX30 index spiked 4.96 percent, to 4,341 points by 11 a.m. local time on Thursday.

The gains built on a solid week of advances by the index as the country's newly elected parliament met for the first time on Jan. 23.

Concerns had built that the anniversary of the Jan. 25 mass uprising that led to Mubarak's ouster last year would descend into violence. But the rallies that took place on Wednesday were largely peaceful and drew tens of thousands to downtown Cairo.


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