Egyptian Stocks Top World as Gas Find Seen Reaping $48 Billion

Egyptian stocks jumped the most in the world on Monday as investors speculated an offshore natural gas discovery would end a domestic supply shortage and earn the country billions of dollars in export revenues.

The benchmark EGX 30 Index climbed 2.8 percent, the most among 93 gauges tracked by Bloomberg, to 7,252.43 at the close in Cairo. That pares the measure’s decline this month to 11 percent, compared with a 9.4 percent drop for MSCI Inc.’s emerging-market index. About 607 million Egyptian pounds ($78 million of shares traded), the highest in almost two months.