Thursday, 14 August 2014

MIDEAST STOCKS-Banks lift Abu Dhabi and Egypt; Qatar rally falters | Reuters

MIDEAST STOCKS-Banks lift Abu Dhabi and Egypt; Qatar rally falters | Reuters:



"Banks lifted Abu Dhabi's share index to a near 10-week high on Thursday, while financial stocks were also the main gainers as Egypt's benchmark rose for a ninth trading day in ten.



National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), Abu Dhabi's two largest lenders by market value, rose 2.1 and 2.8 percent respectively.



NBAD last month lifted its 2014 profit forecast as a buoyant economy and a surge in fee-based income helped it beat second-quarter expectations. FGB, which reported a 16 percent rise in quarterly profit in July, hit a record closing high of 18.60 dirhams on Thursday."



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