MIDEAST STOCKS-ADCB merger update lifts Abu Dhabi, most Gulf markets up | Reuters:
Abu Dhabi's stock market rose sharply on Thursday, lifted by financials and Abu Dhabi Commercial Bank's update on a three-way bank merger, while Saudi Arabia edged down as its petrochemical firms slid.
The Abu Dhabi index was up one percent, partially lifted by a 5.3 percent hike in Abu Dhabi Commercial bank (ADCB), which enjoyed a four-year high, and a 2.4 percent gain by Union National Bank.
ADCB said its board will meet next week to discuss the potential merger between the firm, Union National Bank and Al Hilal Bank.
No comments:
Post a Comment