5 Jul 2013

Leap in Egyptian shares

8:22 am on 5 July 2013

Share prices in Egypt leaped after the ousting of President Mohammed Morsi by the military on Wednesday.

Stocks in Cairo rose by 7% on Thursday, their largest one-day percentage gain in over a year.

The BBC reports traders are hoping that Egypt's prospects will improve in the absence of Mr Morsi, even though the country's battered economy remains in crisis.

Some analysts said a long-stalled loan from the IMF may now be possible, although others remained sceptical.