Egyptian debt insurance costs rise after clashes-Markit

LONDON Feb 2 (Reuters) - The cost of insuring Egyptian debt against default rose on Wednesday after clashes in Cairo between supporters and opponents of President Hosni Mubarak.

Egypt's five-year credit default swaps rose 35 basis points to 385 basis points from a low of 350 bps hit earlier on Wednesday, according to Markit.

The past week has seen Egypt's CDS rise as far as 450 bps, their highest since April 2009, on the political unrest. But CDS prices subsided on Tuesday and early Wednesday on growing optimism about a peaceful resolution to the crisis.

(Reporting by Carolyn Cohn; editing by Sujata Rao)