MIDEAST STOCKS-Abu Dhabi banks soar on merger talks; rate rise hits Egypt | Reuters:
"Shares in Abu Dhabi banks soared on Sunday after National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) confirmed they were in merger talks. Other Gulf stock markets were mixed while an interest rate increase dragged Egypt down.
NBAD and FGB confirmed in a brief statement they were discussing a merger or combination of their businesses, in what would create one of the largest banks by assets in the Middle East and Africa.
Many analysts said it was too early to take positions in the stocks before details were known."
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