Mideast Stocks: Banks drive Egypt gain, petrochemicals boost Saudi | ZAWYA MENA Edition:
A rebound in bank shares lifted Egypt's blue-chip stock index on Monday, while petrochemicals boosted Saudi Arabia's index.
The Egyptian blue-chip index was up 1.7 percent- about twice the rise of the broader EGX100 index- as the biggest bank, Commercial International Bank (COMI), increased 3.5 percent.
The market has suffered sharp corrections since May and that has taken a lot of stocks to attractive entry points, said Radwa El-Swaify, head of research at Pharos Holding in Cairo.
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