Abu Dhabi Stocks Lead Gulf Equity Gain as Banks Prepare to Merge - Bloomberg

Abu Dhabi Stocks Lead Gulf Equity Gain as Banks Prepare to Merge - Bloomberg:

"Abu Dhabi stocks led gains across Gulf Arab equity markets as two of the emirate’s biggest banks approved plans to merge, stoking investor speculation there will be further consolidation in the sheikhdom.
The ADX General Index rose 1.2 percent to the highest level since April. National Bank of Abu Dhabi PJSC added 4 percent and First Gulf Bank PJSC climbed 2 percent as the lenders plan to merge in the first quarter of 2017, according to a joint statement on Sunday. Dubai’s DFM General Index increased 0.8 percent."



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