EMERGING MARKETS-Egypt stocks extend gains; Russia bounces

   LONDON, June 26 (Reuters) - Egyptian stocks extended gains 
on Tuesday to hit three-week highs on hopes the new government 
can revive a struggling economy while Russian assets rose after 
four days of losses in line with a recovery in oil prices. 
    Overall, emerging stocks traded little changed    
ahead of a summit of European Union leaders that weighed on 
sentiment along with a mass downgrade of Spanish banks by 
ratings agency Moody's and a bailout request from Cyprus 
  . 
    The Cairo stock index rose 3 percent    adding to a 7 
percent jump on Monday, its biggest daily gain in nine years 
after Mohamed Mursi was named Egypt's first freely elected 
president, boosting hopes for a violence-free transition from 
army rule and market-friendly economic policies. 
    Egyptian 5-year credit default swaps eased another 3 bps to 
695 basis points, according to Markit, down almost 30 bps from 
3-1/2 year highs touched late last week. 
    In emerging Europe, Russian stocks rose 1.5 percent   , 
off the previous session's three-week lows, while the rouble 
firmed 0.25 percent against the dollar   . But its markets 
will remain under pressure as oil prices have slumped to $92 a 
barrel, well under levels at which the budget was calculated.   
    The Hungarian forint rose 0.4 percent against the euro 
   ahead of a central bank meeting that is expected to 
leave interest rates unchanged. Rate-setting meetings later in 
the week in Romania and the Czech Republic are also not expected 
to yield changes to interest rates    
  . 
    On debt markets, Bahrain was looking to issue a 10-year 
dollar bond, giving an initial spread guidance of 462.5 bps over 
midswaps   . 
   <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 
    For GRAPHIC on MSCI emerging index performance 2012, see  
    For GRAPHIC on MSCI emerging Europe performance 2012, see  
  
    For GRAPHIC on MSCI frontier index performance 2012, see  
  
    For CENTRAL EUROPE market report, see    
    For TURKISH market report, see    
    For RUSSIAN market report, see    
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> 
 
 (reporting by Sujata Rao; Editing by John Stonestreet) 
 ((sujata.rao@thomsonreuters.com)(+44 20 7542 6176 
sujata.rao.thomsonreuters.com@thomsonreuters.net)) 
 

((Emerging Markets Prices from Reuters 
 Equities                  Latest    Net Chg  % Chg  % Chg 
                                                     on year 
 Morgan Stanley    
 Emrg Mkt Indx       906.05    +1.90   +0.21   -1.13  
 Poland              2242.96   +34.61   +1.57   +4.59  
 Hungary              16962.80  +156.64   +0.93   -0.07  
 Romania              4360.39   -67.22   -1.52   +0.54  
 Russia               1277.90   +16.01   +1.27  -10.90  
 South Africa       29748.04   -22.41   -0.08   +4.49  
 Turkey             59728.65  +249.29   +0.42  +16.51  
 China                2222.07    -2.05   -0.09   +1.03  
 India              16865.08   -17.08   -0.10   +9.12  
 Currencies              Latest    Prev    Local    Local   
                                   close   currency currency 
                                           % change % change 
                                                    in 2012 
 Czech Rep         25.87     25.88   +0.03    -1.27 
 Poland             4.25      4.26   +0.07    +5.00 
 Hungary          286.56    287.65   +0.38    +9.79 
 Romania            4.47      4.47   +0.04    -3.23 
 Serbia           114.99    114.58   -0.36    -6.99 
 Russia               33.13     33.23   +0.29    -2.84 
 Kazakhstan          149.32    149.27   -0.03    -0.58 
 Ukraine               8.08      8.07   -0.15    -1.09 
 South Africa          8.47      8.48   +0.09    -4.75 
 Kenya                84.15     84.00   -0.18    +0.95 
 Israel                3.94      3.92   -0.46    -3.24 
 Turkey                1.82      1.82   +0.07    +3.57 
 China                 6.36      6.36   +0.01    -1.08 
 India                57.12     56.96   -0.27    -7.19 
 Brazil                2.06      2.06   +0.01    -9.61 
 Mexico               13.89     13.91   +0.10    +0.38 
 Debt                 Index   Strip Spd  Chg   %Rtn   Index  
 Sov'gn Debt     EMBI+    379        -2   0.03   638.61  
 Currency percent change calculated from the daily U.S. 
 close at 2130 GMT.)) 
 
Keywords: MARKETS EMERGING