The Egyptian Stock Exchange’s main index rose a bit over 1% today, one day after a terrorist attack targeted tourists in Cairo. Perhaps investors judge the attack an aberration and are confident that the government will stabilize the situation and reassure tourists. On the other hand, investors could be responding to a $10B bond purchase by the U.A.E. that some believe will raise confidence in regional economies.
We’ll be watching Egypt’s Travel and Leisure index, which surprisingly gained on today’s trading.