Stocks ended higher Friday after Egyptian President Hosni Mubarak resigned in response to demonstrations against his rule, helping lift investor sentiment and uncertainties surrounding the country.
Stocks were poised to close the session higher Friday after Egyptian President Hosni Mubarak resigned in response to demonstrations against his rule, helping lift investor sentiment and uncertainties surrounding the country.
A furious wave of protest finally swept Egypt's President Hosni Mubarak from power on Friday after 30 years of one-man rule, sparking jubilation on the streets and sending a warning to autocrats across the Arab world and beyond.
The resignation of Egyptian President Hosni Mubarak Friday came after a tense standoff with the nation's top military officials incensed by his refusal to step down as expected Thursday evening, sources told NBC News.
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Egyptian President Hosni Mubarak's stepping down has kicked off a massive celebration in Egypt, but the unrest there sure isn't helping the euro.
Stocks hit session highs and the dollar fell off its highs after Egypt’s Vice-President announced that President Mubarak “waives right to Presidency” and is stepping down. Markets in the U.S. and Europe broadly turned positive, after being mixed to negative for most of the day.
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The lack of a flight to the US dollar and Treasurys during the crisis in Egypt is a warning sign that investors are moving away from traditional American safety plays, Pimco's Mohamed El-Erian told CNBC.
Egyptian President Hosni Mubarak's vow to serve out his term has created a new level of uncertainty in an already tense situation.
Egypt's President Hosni Mubarakannounced Thursday that he would not step down until new elections are held in September. But he may have already lost control of his country.
Markets had a muted reaction to reports that Egyptian President Hosni Mubarak would step down, as the future path for Egypt is still uncertain.
Pimco CEO Mohamed El-Erian shared his commentary on Egypt and the challenges that country faces restarting its economy as its future remains uncertain.
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Rachid called it “paralysis in the country” for the short-term. Rachid expects the crisis to have “impact on growth numbers, production. And the faster we can go back to normality, the faster we can recover from that situation,” said Rachid. For the long-term, Rachid believes “this is going to be quite challenging.”
The protests in Egypt are unsettling regimes around the world as thousands of everyday Egyptians rise and declare that they want an end to President Hosni Mubarak’s 30-year rule. Time will tell if Mubarak’s regime really will collapse or be forced to undertake major reforms, but what is true is there are lessons for China's leaders as well as those through the Middle East.
Rising interest rates and commodities prices could easily turn from tail winds to head winds for stocks.
Multimillionaire foreigners will find it easier to make a home in the UK under government plans to relax immigration rules for the super-rich. The Financial Times reports.