Mubarak resignation talk lifts stocks off lows

February 10, 2011 19:14

LONDON  — Mounting speculation that Egypt's President Hosni Mubarak may be about to concede to protestors' demands and quit helped stock markets recover their poise on Thursday after big losses earlier.

Egyptian State TV has said that Mubarak will speak to the nation Thursday night from his palace in Cairo amid growing expectations that he will step down and hand over authority to Vice-President Omar Suleiman.

Investors hope that a Mubarak resignation will help ease tensions in the Arab world's most populous country and herald some calm following weeks of protests, which has at times descended into violence.

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