Mideast Stocks: Emirates NBD's $2.8bln Turkish deal lifts Dubai | ZAWYA MENA Edition:
Dubai's stock market rose on Wednesday led by gains in its largest bank Emirates NBD after it signed a $2.8 billion deal to buy Turkey's Denizbank, while Saudi Arabia edged up on the back of its banks.
The Dubai index rose 1 percent with Emirates NBD increasing 4.7 percent after hitting its highest level since 2008 earlier in the session.
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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