MIDEAST STOCKS-Amer Group boosts Egypt; Saudi stalls at chart barrier | Reuters:
"A surge in the shares of real
estate developer Amer Group boosted Egypt's stock
market on Monday, while a recovery of Saudi Arabia's market
stalled as the index ran into technical resistance.
Egypt's index surged 1.4 percent as Amer jumped 8.8
percent. The exchange said it would suspend trading in the
company's shares from next Monday until it completed its planned
split into two companies; investors are bullish on the split,
and they scrambled to buy the stock while they still could.
Amer's surge ignited interest in other real estate stocks,
with Palm Hills Development rising 1.9 percent and
Talaat Mostafa adding 1.6 percent."
'via Blog this'
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