Egypt vote drags on shares



Egypt's shares tumbled yesterday after unofficial results from the country's presidential election showed that two candidates, Ahmed Shafiq, affiliated with the government of former president Hosni Mubarak, and Mohammed Morsi from the Muslim Brotherhood will compete in the run-offs.

"We are back to square one: the confrontation between the ex-regime and the Muslim Brotherhood. Both figures are disappointing to the masses," said Wafik Dawood, the head of institutional sales at Mega Investment Securities in Cairo. "Investors are speculating that there will be a prolonged period of unrest."

The EGX 30 Index declined 3.3 per cent to 4,804.73. The benchmark has rallied 32.6 per cent since January as investor appetite returned after November parliamentary elections went smoothly.

"Many blame the unofficial results on divisions among people and the failure to come up with one candidate with a pro-change campaign to represent the revolution," Mr Dawood added.

The official presidential election results are expected this week.

In the UAE, the Abu Dhabi Securities Exchange General Index slipped 0.1 per cent to 2,460.36, while the Dubai Financial Market General Index was little changed at 1,480.25.

Elsewhere in the region, Kuwait's index lost 0.9 per cent to close at 6,277.21, Bahrain's slipped 0.1 per cent to 1,143.43, Oman's MSM 30 Index declined 0.4 per cent to 5,681.92, and Qatar's QE Index rose 0.3 per cent to 8,490.12.

The Saudi Tadawul All-Share Index declined 0.3 per cent to 6,989.45.

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Votes

Total votes: 1.8 million

Ashraf Ghani: 923,592 votes

Abdullah Abdullah: 720,841 votes 

RACE CARD

6.30pm Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m

7.05pm Handicap (TB) $68,000 (Turf) 2,410m

7.40pm Meydan Trophy – Conditions (TB) $50,000 (T) 1,900m

8.15pm Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m

8.50pm Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m

9.25pm Handicap (TB) $65,000 (T) 1,000m

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

The specs

Engine: 6-cylinder, 4.8-litre
Transmission: 5-speed automatic and manual
Power: 280 brake horsepower
Torque: 451Nm
Price: from Dh153,00
On sale: now

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now


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