Salient to Investors:
Khalil el-Anani at Durham University said the Mursi decrees were a big blow to the revolution, the transitional period and democracy and could have dire consequences on the political scene.
Religare Capital Markets said the political instability will probably be resolved soon.
The EGX 30 Index trades at 1.25 times book versus 2.43 times book for Morocco’s Madex Free Float Index and 1.72 times for Saudi Arabia’s Tadawul All Share Index.
Yazan Abdeen at ING Investment Mgmt said the lack of stability will not attract foreign investors regardless of the underlying prices of the stocks.