MIDEAST STOCKS-Egypt rallies on rate cut and constitution; most Gulf shares up | Reuters:
"Egypt's bourse rallied 2.4 percent on Sunday as a draft constitution gained traction and an interest rate cut boosted sentiment, while most Gulf shares also rose.
Egypt's Nour Party, the second-largest Islamist political group, said it would support a new constitution in an upcoming referendum in order to spare the country "more anarchy".
"Sentiment has improved in the market over the voting process of the constitution - it seems there is a coalition forming," said Islam Batrawy, a Cairo-based trader.
Separately, the country's central bank on Thursday reduced its key interest rates by 50 basis points each, saying it was more concerned about boosting growth than taming inflation."
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