CIB, lifting Egypt stocks

[SABRAWY]

Commercial International Bank posted its sharpest single-day gain in almost six months on Wednesday, lifting Egypt main index, as rumours circulated of a possible merger and investors deemed it cheap Shares of the bank, Egypt's largest by market value, surged 3.64 percent to 86.01 Egyptian pounds ($16.08), breaking a three-day losing streak. They helped lift Egypt's main CASE 30 index 1.92 percent to 11,071.93 points, its first gain in four sessions. Commercial International said in May talks with Arab African International Bank on a possible merger had ended.

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