Tuesday 19 April 2011

MIDEAST STOCKS-Egypt's index rebounds; Oman down on Renaissance | News by Country | Reuters

Egypt's main index ended higher on Tuesday as investor interest in battered bluechips returned after a widening graft crackdown, while most Gulf Arab markets corrected after recent rally.

Egypt's index .EGX30 gained 2.5 percent with EFG-Hermes (HRHO.CA: Quote) and Egyptian Resorts (EGTS.CA: Quote) up 8.8 and 7.5 percent respectively.

"This is a natural market reaction after sharp losses in the past period," said Mohamed Swefy of Osool Brokerage.

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