MIDEAST STOCKS-Egypt rises further on tax delay; weaker oil leaves Gulf mixed | Reuters

MIDEAST STOCKS-Egypt rises further on tax delay; weaker oil leaves Gulf mixed | Reuters:



"Egypt's bourse extended its rally on Tuesday after the government put on hold a capital gains tax, while Gulf markets were mixed as oil prices softened.



The Cairo index rose 0.9 percent to 8,878 points, a seven-week high, after surging 6.5 percent in the previous session.



The government on Monday froze plans for a 10 percent tax on capital gains for two years, reversing a central component of its economic reform agenda that investors had criticised. It kept in place a 10 percent dividend tax."



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