MIDEAST STOCKS-Lender FAB hurts Abu Dhabi, Qatar nears five-month low | Reuters:
Abu Dhabi's stock index fell sharply for its worst day in eight months on Wednesday while Qatar touched its lowest in nearly five months, pressured respectively by First Abu Dhabi Bank (FAB) and Industries Qatar going ex-dividend.
The Abu Dhabi index fell 2.2 percent, its biggest intraday loss since June 2018, with largest lender First Abu Dhabi Bank dropping 5.2 percent after going ex-dividend. The bank had declared a cash dividend of 0.74 dirhams last month.
Union National Bank, meanwhile, gained 1.1 percent after calling for a shareholder meeting to approve the proposed merger between with Abu Dhabi Commercial Bank, which firmed by 0.2 percent.
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