Tuesday, March 16, 2010

Egypt TV shows footage of 'upbeat' Mubarak-Egypt stock market falls on Mubarak health worries




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Mubarak's fifth six-year term as president ends in 2011

Egyptian television on Tuesday aired footage of President Hosni Mubarak for the first time since his March 6 surgery in Germany, as his doctor described him as "upbeat and in very good spirits."

In footage apparently recorded Tuesday morning, a pale looking Mubarak in a hospital gown sat in a chair talking to doctors.

The president had made no appearances in public or on television since the operation and no pictures of him in hospital had been published, causing a stock market dip on Monday over speculation about his health.

During his routine medical check-up Mubarak "was upbeat and in very good spirits as usual," his doctor, Markus Buchler of University of Heidelberg told reporters in Germany.

"His resolve and willpower that we witnessed all last week was very obvious this morning as he looks forward to returning to normal activity," he said.

"I'm happy to say that his medical and general condition is improving in a satisfactory manner.

"His physical activity and appetite have improved significantly over the last few days. Accordingly and as of today, no further daily follow-up laboratory investigations are required," Buchler said.

Mubarak, 81, had his gall bladder and a growth removed from his small intestine in an operation at the University of Heidelberg hospital.

Mubarak's fifth six-year term as president ends in 2011. During a speech in 2005, he said he would stay in power until his "last breath."

Before the operation Mubarak, who has been in power for 29 years, temporarily handed power to Prime Minister Ahmed Nazif.

Share prices fell in Egypt on Monday over what analysts said were concerns about the health of President Hosni Mubarak who has not appeared in public since surgery in Germany on March 6.

Egypt's benchmark EGX 30 index fell 3.84 percent by the close, after a fall of 2.40 percent on Sunday.

"There is uncertainty in the stock exchange, particularly among Egyptian investors, due to worries about the health of President Mubarak," an expert at a large financial house in Cairo told AFP on condition of anonymity.

"This will carry on until he makes an appearance," a financial analyst said, echoing the view of many in the sector.

Another analyst said the drop was caused by "bad communication" over the president's health. "Other bourses are steady or doing fine. There is no other reason for the drop in the Egyptian market," he said.

Mubarak, 81, is said to be recovering after having his gall bladder and a growth in the small intestine removed. Official statements from his medical team say the operation went well and that the tissue removed was benign.

The president was in a "witty mood" and his recovery "progressing normally," according to the latest update on Saturday.

But the veteran leader has not made a public appearance since his operation more than a week ago and no photograph of him in the German hospital has been made public.

There is also no indication of when Mubarak is expected back in Egypt.

"Egypt is waiting for a photo of President Mubarak," read a headline in the opposition daily Al-Dustur, although a presenter on state television said he could "soon" address the Egyptian people by telephone from his hospital room.

The octogenarian, who has been in power for 29 years, has temporarily delegated powers to Prime Minister Ahmed Nazif, in line with the constitution. He has yet to announce if he will run in next year's presidential election.




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