MIDEAST STOCKS-Abu Dhabi hits 13-year high, most Gulf markets rise - Reuters:
Abu Dhabi's stock market rose sharply
on Thursday to reach its highest level in more than 13 years,
partly lifted by top lender First Abu Dhabi Bank which has
gained this week after regulatory approval to raise foreign
ownership limit of its shares.
The Abu Dhabi index rose 1.1 percent to its highest
since December 2005 with First Abu Dhabi Bank
increasing 1.5 percent. The bank has risen nearly 9 percent this
week after obtaining regulatory approval last week to increase
its foreign ownership limit to 40 percent from 25 percent.
First Abu Dhabi "could see significant $620 million of
inflows if the foreign ownership increase to 40 percent is
implemented before the last 10 trading days of April," Arqaam
Capital said in a note.
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