Egyptian Shares Rise Most in World as EFG Stake Fuels Optimism - Bloomberg:
"Egyptian stocks advanced the most in the world as investors said they will buy a stake in the country’s biggest investment bank and Saudi Arabia called to raise funds for the nation’s battered economy.
The EGX 30 Index gained 4.7 percent, the biggest jump since July 2013, to close at 8,498.65 in Cairo. That’s the best performance among more than 90 gauges tracked by Bloomberg globally. EFG-Hermes Holding SAE added 9.9 percent after Beltone Financial Holding, Beltone Capital and New Egypt Investment Fund, owned by billionaire Naguib Sawiris, said they’re seeking to buy 20 percent of the bank.
Saudi Arabia’s King Abdullah this week called for an international effort to boost economic aid to Egypt after his ally, former army chief Abdel-Fattah El-Sisi, won a presidential election in the Arab world’s most populous state. The nation’s benchmark stock index has gained 6.7 percent in two days."
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