{"id":9378,"date":"2012-03-28T03:35:55","date_gmt":"2012-03-28T01:35:55","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/egypts-2012-stock-boom-worries-some-fund-managers\/"},"modified":"2012-03-28T03:35:55","modified_gmt":"2012-03-28T01:35:55","slug":"egypts-2012-stock-boom-worries-some-fund-managers","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/egypts-2012-stock-boom-worries-some-fund-managers\/","title":{"rendered":"Egypt’s 2012 stock boom worries some fund managers"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Egyptian stocks rocket 37 pct in 2012, tops in the world<\/span><\/p>\n

<\/span><\/p>\n

* Templeton’s Mobius see short-term turmoil, then gains<\/p>\n

<\/span><\/p>\n

* T. Rowe’s Bell mainly avoiding due to currency weakness<\/p>\n

<\/span><\/p>\n

* Value investor Seruma is buying, saw ‘irrational’ discounts<\/p>\n

<\/span><\/p>\n

By Ross Kerber<\/p>\n

<\/span><\/p>\n

BOSTON, March 27 (Reuters) – Egypt’s stock market has jumped 37 percent so
\nfar in 2012, the largest gain of any country, but top U.S. fund managers focused
\non the region remain wary of further political turmoil and currency weakness in
\nthe most populous Arab nation.<\/p>\n

<\/span><\/p>\n

The country’s main stock index lost nearly half its value last year
\nas massive public protests drove longtime president Hosni Mubarak from power in
\nFebruary 2011 and military leaders assumed control. This year’s stock market
\nbounce came as investors snapped up shares of companies like Orascom
\nConstruction Industries SAE and telecom carrier Egyptian Co for Mobile
\nServices SAE.<\/p>\n

<\/span><\/p>\n

But in recent interviews, several fund managers who most closely follow the
\nnation said significant risks from Egypt’s political and economic situation
\nremained. Egypt’s fragmented political parties are struggling to reach consensus
\non a new constitution and tensions are rising with a president election just two
\nmonths away.<\/p>\n

<\/span><\/p>\n

A major risk is the country’s currency, the Egyptian pound, which several
\nfund managers said could fall in value despite heavy government spending to prop
\nit up.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Egyptian stocks rocket 37 pct in 2012, tops in the world * Templeton’s Mobius see short-term turmoil, then gains * T. Rowe’s Bell mainly avoiding due to currency weakness * Value investor Seruma is buying, saw ‘irrational’ discounts By Ross Kerber BOSTON, March 27 (Reuters) – Egypt’s stock market has jumped 37 percent so […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9378","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9378"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9378\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}