MIDEAST STOCKS-Most Middle Eastern stocks rise; Egypt outperforms - Reuters:
Most Middle Eastern stock markets rose on
Wednesday, supported by gains in banking shares and recovering
oil prices, while Egypt ended a four-day losing streak.
Oil prices rose for a second day, recouping some losses
after a five-day rout, on talk that OPEC would extend oil output
cuts if a new coronavirus hurts demand and on data showing a
decline in U.S. stockpiles.
Egypt's blue-chip index advanced 1% as Telecom
Egypt soared 10% following Vodafone Group's
agreement to sell its stake in Egyptian unit, Vodafone Egypt
.
Telecom Egypt said on Sunday it had no intention of selling
its 45% stake in Vodafone Egypt.
Stock exchange data showed that Egyptian investors were net
buyers of stocks.
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