Husni Mubarak resignation investors renewed hope

Husni Mubarak's resignation investors renewed hope - President Hosni Mubarak has proposed to withdraw a new hope for a recovery in investor confidence crashed in Egypt, with the cost of insuring the debt of countries with high retirement. Analysts and economists have warned that other issues remain to play as the pace of reforms and the role of the army.
The announcement Friday was told by the vice-president, Omar Suleiman, Mubarak was the transfer of control of military forces in the country. Mubarak output marked the apparent end of nearly three weeks of crisis that many feared violence and paralyze the country politically and economically had to descend. Read previoust articles Hosni Mubarak steps down

"It's a step in the direction in all cases the right direction," said John Sfakianakis, chief economist at Riyadh, Saudi Arabia-based Banque Saudi Fransi. "But what we do not know exactly the direction or we take steps to get there. "

In a sign of calming the fears of investors, the country for five years of credit default swaps fell 24 basis points to 313 basis points, according to data from CMA. Meanwhile, the vectors of Egypt ETF market - was about 4.3 percent to $ 18.52 - which allows investors to invest in Egyptian shares. He had reached nearly 6.7 percent in the minutes following the announcement of the resignation.
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