Egypt's bourse ended higher on Wednesday as Mobinil rebounded from declines on talk of potential shareholding changes, while most Gulf markets gained in lacklustre trade.
Egypt's index gained 2.3 percent on heavy buying of Mobinil after some traders said Egyptian telecoms magnate Naguib Sawiris might be preparing to sell shares in the mobile operator. He denied this in comments to Reuters.
Mobinil, whose shares have fallen 44 percent this year, touching its lowest level since 2004 on Aug. 9 at 86 pounds, was the biggest gainer on the index, up 10 percent. Parent company Orascom Telecom gained 5.2 percent.
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