MIDEAST STOCKS-Abu Dhabi stocks near four-year high | Reuters:
Abu Dhabi’s market hovered around a four-year high on Wednesday, bolstered by banks shares, while Saudi Arabia’s market was more subdued.
Abu Dhabi’s index was up 0.5 percent, after hitting its highest level since late 2014 earlier in trading. First Abu Dhabi Bank rose 1.1 percent and Union National Bank 1.9 percent.
Investor sentiment has been boosted by a recovery in oil prices and an announcement by Abu Dhabi in June of a 50 billion- dirham ($13.6 billion) plan to revitalise the economy.
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