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Wednesday, 27 July 2016

MIDEAST STOCKS-Egypt jumps on IMF loan talks, oil pulls down Gulf | Reuters

MIDEAST STOCKS-Egypt jumps on IMF loan talks, oil pulls down Gulf | Reuters:

"Egyptian stocks surged on Wednesday on news that Cairo was close to agreeing an International Monetary Fund (IMF) lending programme, while weak oil prices pulled down most bourses in the Gulf.

The main Egyptian equities index climbed 5.0 percent to 7,915 points, its biggest daily gain since mid-March, in the market's heaviest trade since mid-April.

Blue chips favoured by foreign investors outperformed with Commercial International Bank, the largest listed lender, jumping 5.7 percent and Global Telecom up 6.1 percent."



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