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