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Sunday, 20 November 2016

MIDEAST STOCKS-Abu Dhabi hit after bank merger talk quashed; Saudi slips but Egypt resilient | Reuters

MIDEAST STOCKS-Abu Dhabi hit after bank merger talk quashed; Saudi slips but Egypt resilient | Reuters:
"Shares of three of Abu Dhabi's top lenders pulled back on Sunday after the banks denied they were in merger talks, while Saudi shares were hit by profit taking.

Egypt's stock market gained as foreign funds continued to accumulate blue chips.

Abu Dhabi's index dropped 1.7 percent as Union National Bank retreated 5.2 percent and Abu Dhabi Commercial Bank lost 2.7 percent after both lenders issued separate statements on Sunday denying last week's Bloomberg report that the two lenders were involved in merger talks."

'via Blog this'