MIDEAST STOCKS-Gulf mostly firm; Egypt regains some ground | Reuters

MIDEAST STOCKS-Gulf mostly firm; Egypt regains some ground | Reuters:

"Most Gulf bourses firmed on Tuesday as fresh merger speculation moved stocks in Abu Dhabi, though Saudi Arabia's stock market lost steam as oil prices fell back. Egypt's bourse partially recovered from sharp losses but remained technically bearish.

National Bank of Abu Dhabi pulled back 1.7 percent after surging 20 percent in the previous two days on news of its merger talks with First Gulf Bank. FGB closed flat.

But Union National Bank added 4.6 percent after Arqaam Capital said in a note that after the proposed merger between NBAD and FGB, "we expect UNB to be next"."



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