CAIRO: Former U.S. President Jimmy Carter said Egyptians "should be proud of the first phase of the elections.” He said, thanks to the elections, the Egyptian stock market won 20.35 billion EGP during the past three sessions, compensating some of its losses that reached 30 billion EGP. Concerning the expectations of the stock market next week, a member of the Egyptian Stock Market Administration, Hisham Twafik, said the progress of the Freedom and Justice Party (FJP) won't negatively affect the stock market. It also won't bring what may raise as fear of investors as the FJP has electoral programs that includes serious economic orientations close to the liberal direction, despite the fact it belongs in the Islamic direction. On the other side, capital market expert, Mohamed Saeed, expected the transaction session tomorrow December 4 will begin in the green area as the increase will continue with less frequency than last week. He pointed out the appearance of selective profit gaining processes would be possible during the middle of the transaction session. Saeed pointed out the next point as a target for the main indicator of the stock market EGX30 will be in the range of 4150 points. He expects EGX70 for medium and small companies will be superior in its performance during the coming wave of increase. Saeed added the elections runoff on Monday is characterized by being individual, meaning it is an interest conflict between certain people, so it may be afflicted by a bit hostility in the competition. This might affect the peace that took place in the first phase. This would reflect the investors' performance as some would make selling processes gain profit. Arabic here
