MIDEAST STOCKS-FAB elevates Abu Dhabi, COMI lifts Egypt | Reuters:
Abu Dhabi stock market rose sharply on Monday, buoyed by First Abu Dhabi Bank after it proposed an increase in the foreign ownership limit, while Egypt's blue-chip index was lifted by its top lender Commercial International Bank.
The Abu Dhabi index gained for a third straight day, rising 1 percent to close at its highest sice Oct. 2014.
The United Arab Emirates' largest lender First Abu Dhabi Bank jumped 2.3 percent to 15.34 dirhams, its highest close since May 29, 2014. The bank had last week proposed an increase in its foreign ownership limit to 40 percent from 25 percent and had posted a 4 percent rise in fourth-quarter profit, beating analysts' forecasts.
No comments:
Post a Comment