MIDEAST STOCKS-Egypt surges on property merger talks, Trump tweet hits Saudi:
"Egyptian real estate stocks surged on Wednesday after two big companies in the sector said they might merge, while Saudi Arabia fell sharply after U.S. President Donald Trump threatened imminent military action in Syria.
In Egypt, the stock index gained 1.4 percent as SODIC jumped 5.5 percent to a 10-year closing high and Madinet Nasr for Housing and Development added 7.4 percent to a record high, although both stocks ended well off their intra-day highs.
The companies said they would start preliminary talks on strategic cooperation that might involve a merger or acquisition; EFG Hermes will advise Madinet Nasr."
'via Blog this'
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