Egyptian stocks surge 2.6 percent

Bourse sees a market-wide rally, with shares in Talaat Mousafa Group and CIB the main beneficiaries Egyptian stocks are surging back into the green Tuesday after two session in the doldrums. A market-wide rally has seen the benchmark EGX30 soar 2.61 per cent in the first two and a half hours of trade. From the 158 stocks being traded, nearly 140 are charting gains. The broader-based EGX70 is up a similar 2.77 per cent. Property developer Talaat Moustafa Group is seeing some of the heaviest trade, its shares soaring 7 per cent. Commercial International Bank shares are gaining 3.9 per cent, those in Oracom Telecom Media and Technology are up 1.9 per cent. From ahramonline