Egypt stocks making fast gains

Egyptian stocks are making their strongest gains in a week, the benchmark EGX30 up 1.81 per cent halfway through Wednesday trade.

The main index has swung between mild losses and gains since the middle of last week. The EGX30 reached a near three-year low on 7 August as Egyptian shares felt the impact of the US credit downgrade and concerns over eurozone debt.

Turnover has been muted in recent days, with Sunday seeing the slowest trade in a decade, according to Egypt's state-run MENA news agency.