Egypt’s stock market is rebounding after investor worries over President Hosni Mubarak’s health pushed the benchmark index to its lowest point in three months.
The exchange EGX 30 index was up 1.52 percent by 1 PM to 6,449.69 points, after realizing a 5.5 percent drop over the past three days.
Brokers attributed the decline largely to concerns about Mubarak’s health. The Egyptian president, who has been in power roughly three decades, underwent gall bladder surgery in Germany earlier this month.
The drop hinted at an undercurrent of unease in the Arab world’s most populous nation. Despite several years of solid economic gains, Egypt’s stability is often seen directly linked to Mubarak, who has no vice president.