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Thursday, 5 January 2017

MIDEAST STOCKS-Egypt surges to record; Dubai, Qatar outperform Gulf | Reuters

MIDEAST STOCKS-Egypt surges to record; Dubai, Qatar outperform Gulf | Reuters:

"Egypt's stock market closed the week at a record high on Thursday as foreign funds continued to buy, while Gulf markets inched up on the back of firmer crude oil and global bourses.

Cairo's index closed 1.7 percent higher at 12,824 points in the heaviest traded volume since mid-November.

"Since the float of the currency on Nov. 3 the market has not witnessed a correction and foreign funds have been flooding the market with fresh money, helping maintain positive appetite towards equities," said Mohamed El Nabarawy, head of asset management at Cairo's HC Securities & Investment.

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