Biggest U.A.E. Lender Seen Extending Rally as Index Review Nears - Bloomberg:
First Abu Dhabi Bank PJSC’s stock has gained in six of the past seven weeks, bringing the rally for the year to 37 percent. A beckoning index-weighting upgrade means more joy could be in store for shareholders.
The biggest lender in the United Arab Emirates is expected to have its weighting in the MSCI Emerging Markets Index doubled to almost 0.2 percent in November, when the index compiler announces the results of a review. The stock now meets liquidity requirements that fulfill an increase in representation, opening room for it to attract as much as $455 million in inflows, according to estimates by EFG-Hermes Holding and Arqaam Capital Ltd.
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