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Tuesday, 20 December 2016

MIDEAST STOCKS-Egypt hits record high, Qatar buoyed by $44 bln bank merger plan | Reuters

MIDEAST STOCKS-Egypt hits record high, Qatar buoyed by $44 bln bank merger plan | Reuters:
"Egypt's blue chip stock index surged to a record high on Tuesday while Qatar's market was supported by a potential $44 billion bank merger but other major Gulf bourses were dampened by profit- taking.

Cairo's index jumped 3.4 percent to 12,148 points, exceeding its previous all-time high of 12,039 points reached in April 2008. The index is up 6.6 percent over the last two days and up a spectacular 73.4 percent since the start of the year.

Shares favoured by foreign funds were the top performers, with Global Telecom Holding leaping 12.9 percent. The broader EGX100 index rose 1.0 percent."

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