Centamin biggest winner in FTSE 350

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.

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On Saturday, Egyptian President Mohammed Morsi rescinded his Presidential decree but remained firm on going ahead with a referendum towards year-end.

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

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