Optimism about political stability helped lift Egypt's bourse to a six-month high on Sunday despite a currency downgrade, and Kuwait's index rose on hopes of strong dividends, while most other Gulf markets slipped.
Egypt's main index jumped 2.9 percent to its highest close since Aug. 4, brushing off a Standard & Poor's currency downgrade, on hopes that political stability may be returning to the country after a year of turmoil.
Traders said many investors were relieved that a countrywide strike called by activists for Saturday passed off with few disruptions, and that Egypt's talks with the International Monetary Fund seem to be going ahead with few glitches.
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