MIDEAST STOCKS-Emirates NBD jumps to 11-year high, lifts Dubai | Reuters:
Dubai's stock market rose on Wednesday, lifted by gains in top lender Emirates NBD after it agreed to buy Turkey's Denizbank, while Saudi Arabian stocks climbed as banks rose across the board.
The Dubai index gained 1.1 percent, with Emirates NBD rising 6.1 percent in its highest trading volume in a year, with 8.8 million shares changing hands.
The bank will buy Denizbank for 15.48 billion lira ($2.8 billion) after reaching a new agreement with Russia's state-owned Sberbank. The offer is a roughly 20 percent discount to a previously agreed price, after a steep fall in the Turkish lira.
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