UPDATE 2-MIDEAST STOCKS-Egypt resumes rally; Saudi Arabia extends gains | Reuters:
"Egypt's stock market turned bullish again in early trade on Tuesday after a short bout of profit-taking, while Saudi Arabia's bourse edged up on the back of banking stocks.
The Cairo benchmark rose 1.3 percent as most stocks were in the black. Property firm Medinet Nasr Housing and Development led gains, surging 5.1 percent as Egypt's central bank continued the gradual depreciation of the pound.
The pound slipped to 7.43 per dollar from 7.39 at a central bank auction on Monday, to the weakest level it has been allowed to reach since auctions began in December 2012. It was the sixth consecutive official depreciation in the past week, prompted by the gap between the black market and the official rate."
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