MIDEAST STOCKS Abu Dhabi hits record high as IHC leaps | Reuters
Abu Dhabi stocks rose to an all-time high on Wednesday boosted by shares of conglomerate International Holding (IHC), which extended a four-day winning streak.
IHC (IHC.AD) has risen 11% this week after the Abu Dhabi's most valuable listed firm on Sunday reported a net profit of 4.36 billion dirhams ($1.19 billion) for the period ended June 30, up from 814 million dirhams year ago.
In Abu Dhabi, the index (.ADI) advanced 1.1%, with IHC jumping 4.2%.
Among other gainers, Abu Dhabi National Energy Company (TAQA.AD) advanced 3.2% after it posted a surge in first-half net profit.
Saudi Arabia's benchmark index (.DFMGI) gained 0.4%, led by a 0.5% rise in Al Rajhi Bank (1120.SE) and a 1.3% increase in Saudi National Bank (1180.SE).
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