Google+ Followers

Wednesday, 5 April 2017

MIDEAST STOCKS-Abu Dhabi jumps ahead as confidence builds in blue chips, Saudi up on oil rally | Reuters

MIDEAST STOCKS-Abu Dhabi jumps ahead as confidence builds in blue chips, Saudi up on oil rally | Reuters:

"Stock markets in the Middle East firmed on Wednesday with Abu Dhabi outperforming its peers for a second day as institutional investors targeted blue chips, while crude oil near a one month high boosted Saudi Arabia. Abu Dhabi's index climbed 2.0 percent on the back of a 4.1 percent jump in shares of newly merged lender First Abu Dhabi Bank. It has now soared by 10.7 percent since Sunday, when the National Bank of Abu Dhabi and First Gulf Bank tie up became official in very high volumes. Farid Samji, head of asset management at Dubai-based Daman Investment, attributed the exceptionally high volumes to the inflow from the change of weighting in the emerging market indexes, including the MSCI Emerging Market index and the FTSE secondary emerging market index."



'via Blog this'