MIDEAST STOCKS-Egypt extends gains on inflation data, Gulf dips on recession fears - Reuters:
Egyptian blue-chip stocks rose to their
highest in nearly three and a half months, extending the
previous session's gains, after Egypt reported
better-than-expected inflation data for the month of July.
Most Gulf markets traded on Wednesday after a three-day Eid
holiday, while Saudi Arabia and Oman will resume trading on
Sunday.
Egypt's blue-chip index surged 2.5% to 14,541
points, a level not seen since May 5. The country's biggest
lender Commercial International Bank rose 2.8%, while
El Sewedy Electric jumped 8.1%.
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