Egypt stock index climbs 2.0 pct at opening; financials lead

CAIRO (Reuters) – Egypt’s stock market surged in early trade on Sunday, led by financial companies’ shares, on hopes that the economy will benefit from last week’s devaluation of the Egyptian pound.
The blue chip index was up 2.4 percent after five minutes of trade while the broader EGX100 index climbed 2.0 percent. On Thursday, the blue chip index had risen 3.4 percent in an initial response to the devaluation.
Commercial International Bank, the biggest bank, jumped 5.2