Mideast Stocks: Egypt continues winning streak, banks boost Saudi | ZAWYA MENA Edition:
Egypt's blue-chip share index rose sharply on Tuesday boosted by major lender Commercial International Bank after its strong fourth-quarter earnings, while banks also lifted Saudi Arabia's stock market.
Egypt's blue-chip index gained for a ninth straight session, climbing 2.6 percent with 27 of its 30 stocks rising. The country's biggest lender Commercial International Bank jumped 3.9 percent after it reported fourth-quarter net profit after interest of 2.56 billion Egyptian pounds ($146 million) compared to 1.87 billion pounds a year ago.
Global Telecom Holding climbed 3.3 percent to its highest since July after major shareholder VEON Ltd said that it offered to buy out the firm.
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