Egypt's benchmark index climbs 1.7 percent, boosted by news that Qatar National Bank is in talks to buy a controlling stake in the Egyptian unit of France's Societe Generale, traders say.
The Paris-based bank, which owns 77.17 percent of Egypt's National Societe Generale Bank, said the talks were preliminary, but the news led the market to its highest level since March 7, with banking stocks performing especially well.
NSGB surges 10 percent, the highest increase allowed under stock market rules. Commercial International Bank, Egypt's biggest listed privately owned bank by assets, rises 5.4 percent.
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