MIDEAST STOCKS-CIB helps Egypt rebound; Saudi market flat | Reuters:
"A bounce in shares of Commercial International Bank (CIB) helped Egypt's stock market rebound from near technical support on Wednesday, while most Gulf markets were little changed.
CIB, a traditional favourite of foreign investors, had tumbled 22 percent over the past three weeks ago, hit by concern that Egypt might soon devalue its currency because of the blow to tourism revenues from last month's apparent bombing of a Russian passenger jet over the Sinai Peninsula.
Devaluation worries have not gone away, but some investors bought back into CIB at Wednesday's lows. The stock climbed 3 percent to 42.57 Egyptian pounds, helping Cairo's main share index gain 1.1 percent to 6,391 points. It has minor chart support at last week's low of 6,302 points."
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