United Arab Emirates shares rose, sending Abu Dhabi's index up the most since June, as earnings at the country's banks improved.
National Bank of Abu Dhabi PJSC, which last month posted second-quarter profit that beat expectations, jumped the most since June after it had its price estimate raised 9 percent at Goldman Sachs Group Inc. First Gulf Bank PJSC gained 0.6 percent. Abu Dhabi's ADX General Index advanced 0.8 percent, the most since June 15, to 2,670.79 at the 2 p.m. close in the emirate. The measure increased 1.6 percent this week. The DFM General Index climbed 0.9 percent.
'So far there are solid results from banks,' said Fadi Al Said, a Dubai-based senior investment manager at ING Investment Management, which oversees about $518 billion worldwide. 'In the second half of Ramadan, things might get busier.'
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