Mideast Stocks: Egypt leads major Middle Eastern stocks higher

Most major stock markets in the Middle East closed up on Sunday

  
Image used for illustrative purpose only. Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.

Image used for illustrative purpose only. Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.

REUTERS/Mohamed Abd El Ghany

Most major stock markets in the Middle East closed up on Sunday, with broad-based gains pushing Egyptian shares higher as financial stocks led the pack.

The blue-chip index  in Egypt, which traded after a session break, advanced 2%. Commercial International Bank gained 2.3%, while investment bank EFG Hermes closed up 4.9%.

Saudi Arabia's benchmark index rose 0.8%, led by a 10% surge in Saudi Industrial Investment Group and 2.6% increase in Riyad Bank.

Elsewhere, petrochemicals investor Alujain Holding 2170.SE jumped 9.9%, having reported last week that its second-quarter loss narrowed to 46.4 million riyals ($12.37 million) from a loss of 78.7 million riyals a year earlier. 

The Qatari index added 0.4%, with petrochemical maker Industries Qatar rising 4.4%.

** Dubai and Abu Dhabi were closed for a public holiday.

($1 = 3.7504 riyals)

(Reporting by Ateeq Shariff in Bengaluru Editing by Mark Heinrich) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))

More From Equities