MIDEAST STOCKS-Abu Dhabi hits four-year high, Saudi slips amid Canada row | Reuters:
Abu Dhabi’s stockmarket touched four-year highs on Wednesday, helped by bank stocks, while Saudi Arabia’s dipped amid a diplomatic row with Canada.
First Abu Dhabi Bank climbed by 0.7 percent. Other banks also rose, with Abu Dhabi Islamic Bank up 1.8 percent and Union National Bank rising by 2.8 percent.
Banks are expected to be among the beneficiaries of a 50 billion dirham ($13.6 billion) plan announced by Abu Dhabi in June to revitalise the economy.
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