MIDEAST STOCKS-Abu Dhabi shares climb, UNB makes fresh gains on merger talks | Reuters:
Abu Dhabi’s stock market edged higher on Wednesday, in contrast to most other Gulf markets, propelled by a surge in Union National Bank as investors expected the bank to benefit from a potential merger.
UNB added to double-digit gains on Tuesday to climb 6.6 percent. It follows Abu Dhabi Commercial Bank announcing on Monday it was in early merger talks with UNB and separately with unlisted Al Hilal Bank.
UNB confirmed talks with ADCB, saying they were “very preliminary”.
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