MIDEAST STOCKS-Financial stocks elevate Egypt, most of Gulf quiet - Reuters:
The Egyptian stock market rebounded on
Thursday, getting a boost from financials, while most major Gulf
markets were little changed.
The Egyptian blue-chip index rose 0.6%, with 23 of
its 30 stocks in the black. Non-Arab foreigners were the net
buyers of the stocks during the session, while Egyptians were
the net sellers, according to data on the exchange website.
Tobacco products maker Eastern Company climbed
2.8%, while EFG Hermes leapt 3.1%.
Among other stocks, Egypt's Citadel Capital
climbed 3.8%. Earlier this week, the company's chairman told
Reuters that Citadel will raise its refinery production capacity
to 5.5 million tonnes of oil products per year in 2021 from 4.2
million now.
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