Monday 6 June 2011

MIDEAST STOCKS-ADCB lifts Abu Dhabi; Gulf markets mixed | Reuters

Abu Dhabi Commercial Bank (ADCB.AD: Quote) (ADCB) shares ended at a 31 month high as it proceeds with a stake sale in Malaysian bank RHB (RHBC.KL: Quote).

Egypt's index fell on persisting tax concerns while other Gulf Arab markets were mixed.

ADCB jumped 2.7 percent to its highest close since October 2008 after sources said it will not let planned bids by lenders Maybank (MBBM.KL: Quote) and CIMB (CIMB.KL: Quote) for RHB derail its auction.

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