MIDEAST STOCKS-Egypt climbs on talk of Sisi presidential bid; Qatar drops as IQ goes ex-div | Reuters

MIDEAST STOCKS-Egypt climbs on talk of Sisi presidential bid; Qatar drops as IQ goes ex-div | Reuters:



"* Newspaper says Sisi to resign as defence minister on Monday



* Heavyweight Industries Qatar tumbles 7.1 percent



* Gulf diplomatic tensions continue to weigh on market 




* Dubai hits four-week closing low on profit-taking



* Kuwait's Zain, NBK bought as undervalued blue chips



By Nadia Saleem

DUBAI, March 11 (Reuters) - Egyptian shares rose on Tuesday after an unconfirmed media report suggested defence minister Abdel-Fattah al-Sisi would soon launch his bid for the presidency, while Qatar took a hit as heavyweight Industries Qatar traded ex-dividend.



Egypt's Al Shorouk newspaper reported Sisi would officially announce his resignation from his current post on March 17; it cited an unidentified source close to the armed forces. It said Sedki Sobhi, armed forces chief of staff, would replace Sisi.



"If this happens, it will open the way for Sisi's run for the presidency," said Islam Batrawy, Cairo-based head of regional equity sales at NBK Capital. Sisi is the favourite of many Egyptian investors, who see him as the best guarantor of political stability and economic aid from the Gulf."



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