In Egypt, Cairo’s benchmark rose 0.9 percent, with Egyptians and other Arab investors net buyers of stocks, bourse data shows. (REUTERS/Louafi Larbi)
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Egypt's main share index hit a three-year high Sunday after army chief General Abdel-Fatah al-Sisi gave his clearest signal yet of his interest in becoming president. Gulf stock markets were steady as investors awaited fourth-quarter earnings announcements to determine whether recent gains were justified, with many regional benchmarks hovering around five-year highs.Egypt's benchmark rose 2.0 percent to 7,117 points, its highest close since January 2011, when former President Hosni Mubarak was still in power. The index is up 43 percent since the army ousted Egypt's first democratically elected leader Mohammad Morsi last July. EFG Hermes jumped 9.9 percent, surging for a second session since the investment bank announced a $144 million share buyback.Saudi's Alinma Bank ended flat to hold at a 21-month high after it posted a 35 percent increase in fourth-quarter profit.
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