BUZZ: First Abu Dhabi Bank sees worst day in nearly a decade | ZAWYA MENA Edition

BUZZ: First Abu Dhabi Bank sees worst day in nearly a decade | ZAWYA MENA Edition:

First Abu Dhabi Bank (FAB) plunged 9.4%, to its biggest intraday loss since November 2009, after MSCI decided to maintain bank's weight in the index despite foreign ownership limit hike.

FAB's losses have been further exaggerated by volatile markets amid U.S.-China trade tensions and rise in Middle East tensions. 


MSCI will maintain FAB's foreign inclusion factor at 25% in its international indexes, despite recent foreign ownership limit increase to 40% from 25%, Arqaam Capital said in a note.