Egypt's Orascom Telecom (OT) hit a seven-week high on Tuesday, extending gains for a second day since a report of a positive valuation of a unit, while most Gulf markets closed higher, tracking gains in world stocks.
OT's shares rose 6.7 percent to their highest close since Aug. 4, after an Egyptian newspaper reported that a law firm charged with assessing the value of the company's Algerian unit, Djezzy, had said it was worth $7 billion.
Mobinil , in which Orascom Telecom is a main shareholder, soared 10 percent. The main index rose 1.2 percent.
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