MIDEAST STOCKS-Abu Dhabi outperforms as TAQA leaps; Saudi Arabia strong:
"Abu Dhabi outperformed among mixed regional stock markets on Thursday, with Saudi Arabia extending a rebound following several days of profit-taking.
The Abu Dhabi index closed 1.7 percent higher, supported by the financial and energy sectors. Abu Dhabi National Energy Co (TAQA) (TAQA) jumped 5.9 percent to a 40-month closing high and was the most heavily traded stock.
After several years of struggling with low oil prices, the company’s earnings have started to improve and last month, the Abu Dhabi government folded TAQA’s parent, utility Abu Dhabi Water & Electricity Authority, into its newly established department of energy - a move which could benefit the company."
'via Blog this'
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