Egypt-focused gold mining company Centamin was the FTSE 350's biggest winner at the close of trading on Monday having risen by 9.9 per cent to 54.90p per share.
The sudden rise in the share price may be partially related to political events that unfolded over the weekend and early hours of this morning.
On Saturday, Egyptian President Mohammed Morsi rescinded his Presidential decree but remained firm on going ahead with a referendum towards year-end.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
On Monday, the BBC reported that he had ordered the military to maintain security and protect state institutions in the run-up to a referendum on a new constitution.
In the last two months, the stock has fallen by over 55% from its highest value of 107.30p in mid-October to a 52-week low of 49.95p.
MF
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
