MIDEAST STOCKS-Gulf mostly firm, NBAD continues climb | Reuters:
"Most Gulf stock markets were firm in early trade on Monday while National Bank of Abu Dhabi (NBAD) continued to surge in response to its merger talks with First Gulf Bank.
Shares in NBAD climbed 7.6 percent after surging their 15 percent daily limit on Sunday, while FGB was down 2.7 percent after an 11.5 percent jump in the prior session. Many investors are assuming that any share swap in a merger would favour NBAD holders.
Other Abu Dhabi banks also rose sharply on Sunday on speculation about more potential mergers in the over-crowded banking sector, but that speculation eased on Monday. Abu Dhabi Islamic Bank fell back 3.9 percent after gaining 4.6 percent on Sunday."
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