MIDEAST STOCKS-FAB leads Abu Dhabi index higher, Saudi subdued | Reuters:
Abu Dhabi’s stock index led gains on Sunday, boosted by a surge in First Abu Dhabi Bank, while Saudi Arabia’s main market was buoyed by Al Rajhi Bank .
First Abu Dhabi Bank, which last week said it had proposed increasing its foreign ownership limit to 40 percent from 25 percent, has now risen close to 50 percent since its creation in April 2017.
The United Arab Emirates’ largest bank also beat analysts’ forecasts on Thursday with a 4 percent rise in fourth-quarter profit.
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