Mideast Stocks: FAB boosts Abu Dhabi sharply, Gulf mostly gains | ZAWYA MENA Edition:
The Abu Dhabi stock market rose sharply on Tuesday on the back of banks, enjoying its biggest one-day gain in two years, while real estate stocks buoyed Dubai.
The United Arab Emirates markets did not trade for two days because of a national holiday. When they reopened, the Abu Dhabi index .ADI jumped 2.6 percent, with the emirate's largest lender, First Abu Dhabi Bank, adding 4.4 percent in low volume after sliding for three sessions.
Tuesday is the bank's first trading day after its weighting in MSCI's emerging markets index doubled, and some passive funds linked to the index may have entered the stock on Tuesday. Meanwhile, Abu Dhabi Commercial Bank added 2.3 percent.
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