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Thursday, 4 August 2016

MIDEAST STOCKS-Egypt closes at 13-month high, Gulf firms on oil | Reuters

MIDEAST STOCKS-Egypt closes at 13-month high, Gulf firms on oil | Reuters:

"Egypt's stock market closed at a 13-month high on Thursday amid optimism over Cairo's talks with the International Monetary Fund, while bourses in the Gulf firmed as oil prices came off multi-month lows and global equities firmed.

The main Egyptian index jumped 1.9 percent in its highest trading volume for seven weeks as institutional funds bought shares, bourse data showed.

The index rose 2.8 percent over the week on hopes that an IMF team visiting Cairo would agree on a three-year, $12 billion loan that would stimulate economic growth and ease a hard currency shortage."



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