MIDEAST STOCKS-Emirates NBD buoys Dubai, other major Gulf markets also up - Reuters:
Major stock markets in the Gulf rose in early trade on Thursday, with the Dubai’s index boosted by a leap in top lender Emirates NBD.
Dubai’s main share index advanced 1.2%, led by a 2.5% rise in its largest lender Emirates NBD.
The bank is in preliminary discussions with Lebanon’s Blom Bank regarding the possibility of a potential acquisition of its existing shareholding in Blom Bank Egypt.
DAMAC Properties, however, retreated 1.2%, after it posted a second-quarter loss of 280 million dirhams. It was the company’s third consecutive quarterly loss, according to Refinitiv data.
Saudi Arabia’s benchmark index rose 0.4% with Al Rajhi Bank adding 1% and oil giant Saudi Aramco up 0.6%.
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