Egypt stocks up as foreigners return

Cairo's main index jumped 2.3 percent to 6,202 points as foreign buyers returned. Foreign investors, who had mostly been exiting positions since the start of the year, were net buyers on Thursday, bourse data showed.
Technical analysts at Cairo-based Pharos Research said this could be an opportunity to enter the Egyptian market.
"We think that any break above the 7,100 level – which is the resistance line – would be a confirmation of a bullish rally," they said in a note to clients.
Commercial International Bank, one of the Egyptian stocks preferred by foreign fund managers, surged 4.9 percent.

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