Economics
Egypt Debt, Stocks Climb as El-Sisi Win Spurs Saudi Call for Aid
This article is for subscribers only.
Egyptian Eurobonds extended their winning streak and stocks rose the most in the world after Saudi Arabia’s King Abdullah called for an international effort to raise funds for the Arab world’s most populous country.
The yield on the benchmark 5.75 percent debt maturing in 2020 fell for a 13th day, dropping one basis point to 4.79 percent at 2:44 p.m. in Cairo and set for the lowest close since December 2010. The yield on the 6.875 percent 2040 notes fell three basis points to 6.89 percent. The benchmark EGX 30 Index of stocks climbed 1.92 percent, the most in three weeks.