Sunday 17 August 2014

MIDEAST STOCKS-Markets look lacklustre; EFG Hermes Q2 could boost Egypt | Reuters

MIDEAST STOCKS-Markets look lacklustre; EFG Hermes Q2 could boost Egypt | Reuters:



"Most Middle East bourses look likely to be quiet on Sunday, with little company-specific news to trade on and an end-of-week wobble on international markets offering little incentive for regional investors to bid up stocks.



Egypt's benchmark may buck the hesitant trend, however - Cairo hit a new six-year peak on Thursday and bullish earnings from investment bank EFG Hermes should bolster sentiment.



EFG made a net profit of 188 million Egyptian pounds ($26.3 million) in the second quarter of 2014, up from a loss of 80 million pounds in the year-earlier period."



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