It Was not just the million-strong crowd filling Tahrir Square in the heart of Egypt's capital, Cairo, that signalled celebration. So did the index at the nearby stock exchange. Having plummeted in the few weeks separating the two rounds of Egypt's first free presidential election, shares jumped nearly 8% in a single trading session after the official confirmation on June 24th that Muhammad Morsi would be the country's new head of state. The Muslim Brotherhood candidate captured 52% of the vote in a modest voter turnout, reflecting widespread mistrust and even fear of the secretive and highly disciplined group. Yet many of its detractors shared relief at Mr Morsi's triumph.
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