Egypt's Orascom Telecom (OT) surged on Monday on a report of a positive valuation of a unit, helping the bourse break a six-day losing streak, while Gulf markets ended lower on concerns over the European debt.
OT ended 10 percent higher after an Egyptian newspaper said a law firm valued its Algerian unit Djezzy at $7 billion.
"We are still waiting on confirmation of the news. But if it is real then this is an extremely positive valuation," said Margo Moussa an analyst at Arab Finance Brokerage.
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