MIDEAST STOCKS-GFH supports Dubai, banks weigh on Saudi again | ZAWYA MENA Edition:
"News of board changes at GFH Financial boosted Dubai's stock market early on Monday while bank stocks dragged on Saudi Arabia's index for a second straight day.
The Dubai index was flat but GGFH climbed 4.4 percent after saying Jassim Alseddiqi, chief executive of Abu Dhabi Financial Group (ADFG), had been elected chairman of its board. Under a management restructuring plan, chief financial officer Chandan Gupta is resigning.
The company did not explain the changes but they could point to closer cooperation between GFH and ADFG, which owns nearly half of Shuaa Capital, whose shares gained 1.8 percent. GFH and Shuaa held merger discussions last year but the talks were called off in June."
'via Blog this'
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