Thursday 1 August 2013

MIDEAST STOCKS-Banks lift Abu Dhabi bourse to 58-month high; most mkts up | Reuters

MIDEAST STOCKS-Banks lift Abu Dhabi bourse to 58-month high; most mkts up | Reuters:

"Abu Dhabi's bourse climbed to a new 58-month high on Thursday, backed by a bullish outlook on banks, while most other regional markets also gained.

Shares in Abu Dhabi's First Gulf Bank jumped 4.9 percent, National Bank of Abu Dhabi rose 1.9 percent and Invest Bank gained 5.7 percent.

Many of the emirate's banks have in the last two weeks reported strong earnings growth for the second quarter, with some beating analysts' forecasts, confirming they are benefiting from an economic recovery."

'via Blog this'

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