Tuesday 19 August 2014

MIDEAST STOCKS-Egypt's property stocks lead Cairo rebound; Dubai up | Reuters

MIDEAST STOCKS-Egypt's property stocks lead Cairo rebound; Dubai up | Reuters:



"Egyptian property developer SODIC helped Cairo's bourse rebound on Tuesday as foreign institutions bought into the country's buoyant real estate sector.



Gulf markets were also mostly upbeat as buying demand increased slightly, but trading remained in a summer lull.



SODIC's shares surged 8.7 percent to a six-year peak of 47.30 Egyptian pounds. Last week, the firm - also called Sixth of October Development and Investment Co - posted a 14 percent rise in second-quarter profit."



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