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  
  .MSCIEF
   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  
  ID:nWNA9975
  .     The Cairo stock index rose 3 percent  
  .EGX30
   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  
  .IRTS
  , off the previous session's three-week lows, while the rouble firmed 0.25 percent against the dollar  
  RUB=
  . 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  
  EURHUF=
   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  
  ID:nL5E8HL6MF
    
  ID:nL5E8HL6GY
  .     On debt markets, Bahrain was looking to issue a 10-year dollar bond, giving an initial spread guidance of 462.5 bps over midswaps  
  ID:nL6E8HQ49K
  .    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^     For GRAPHIC on MSCI emerging index performance 2012, see 
  http://link.reuters.com/weh36s
      For GRAPHIC on MSCI emerging Europe performance 2012, see 
  http://link.reuters.com/jun28s
        For GRAPHIC on MSCI frontier index performance 2012, see 
  http://link.reuters.com/zyh97s
        For CENTRAL EUROPE market report, see  
  CEE/
       For TURKISH market report, see  
  .IS
       For RUSSIAN market report, see  
  RU/RUB
   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>   (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   
  .MSCIEF
     906.05    +1.90   +0.21   -1.13   Poland          
  .WIG20
     2242.96   +34.61   +1.57   +4.59   Hungary         
  .BUX
      16962.80  +156.64   +0.93   -0.07   Romania         
  .BETI
      4360.39   -67.22   -1.52   +0.54   Russia          
  .IRTS
      1277.90   +16.01   +1.27  -10.90   South Africa    
  .JTOPI
    29748.04   -22.41   -0.08   +4.49   Turkey          
  .XU100
    59728.65  +249.29   +0.42  +16.51   China           
  .SSEC
      2222.07    -2.05   -0.09   +1.03   India           
  .BSESN
    16865.08   -17.08   -0.10   +9.12   Currencies              Latest    Prev    Local    Local                                      close   currency currency                                            % change % change                                                     in 2012  Czech Rep     
  EURCZK=
     25.87     25.88   +0.03    -1.27  Poland        
  EURPLN=
      4.25      4.26   +0.07    +5.00  Hungary       
  EURHUF=
    286.56    287.65   +0.38    +9.79  Romania       
  EURRON=
      4.47      4.47   +0.04    -3.23  Serbia        
  EURRSD=
    114.99    114.58   -0.36    -6.99  Russia        
  RUB=
        33.13     33.23   +0.29    -2.84  Kazakhstan    
  KZT=
       149.32    149.27   -0.03    -0.58  Ukraine       
  UAH=
         8.08      8.07   -0.15    -1.09  South Africa  
  ZAR=
         8.47      8.48   +0.09    -4.75  Kenya         
  KES=
        84.15     84.00   -0.18    +0.95  Israel        
  ILS=
         3.94      3.92   -0.46    -3.24  Turkey        
  TRY=
         1.82      1.82   +0.07    +3.57  China         
  CNY=
         6.36      6.36   +0.01    -1.08  India         
  INR=
        57.12     56.96   -0.27    -7.19  Brazil        
  BRL=
         2.06      2.06   +0.01    -9.61  Mexico        
  MXN=
        13.89     13.91   +0.10    +0.38  Debt                 Index   Strip Spd  Chg   %Rtn   Index   Sov'gn Debt   
  11EMJ
   EMBI+    379        -2   0.03   638.61   Currency percent change calculated from the daily U.S.  close at 2130 GMT.))  Keywords: MARKETS EMERGING