MIDEAST STOCKS-Egypt slumps as locals dump stocks; Gulf moves little | Reuters:
"Egypt's stock market tumbled on Wednesday as local investors booked profits made after the March 14 devaluation of the currency. Gulf markets were little changed as the region's first-quarter earnings season began.
The Egyptian index sank 2.6 percent to 7,460 points, retreating from technical resistance on the October peak of 7,716 points. Trading volume rose as Egyptian investors were net sellers, bourse data showed.
"The market today witnessed a correction after the strong price rally and volume surges seen after the currency devaluation on March 14," said Allen Sandeep, research director at Cairo-based Naeem brokerage."
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