How to Combine PDF Files Quickly and Easily    Egypt's agricultural exports climb to 8.5m tons in 2025    CIB launches training programme, awareness campaigns for Global Fraud Awareness Week    ABE chair meets Beheira, Daqahleya governors to advance agricultural development    Israel accused of ceasefire violations as humanitarian risks escalate in Gaza    Maternal, fetal health initiative screens over 3.6 million pregnant women    Banque Misr signs EGP 3bn revolving credit facility with SODIC    The Future Begins Now: A National Alliance Bridging the Gap Between Classroom Seats and Leadership Dreams    Ahl Masr Burn Hospital Concludes First Scientific Forum, Prepares for Expanded Second Edition in 2026    Australia returns 17 rare ancient Egyptian artefacts    Gold prices edge lower on Thursday    Egypt expands rollout of Universal Health Insurance    Cairo affirms commitment to Lebanese sovereignty, urges halt to cross-border violations    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Abu Dhabi shares up U.S. trade disputes weigh MENA bourses
Amwal Al Ghad Published in Amwal Al Ghad on 04 - 09 - 2018

Abu Dhabi shares surged at the open on Tuesday after Abu Dhabi Commercial Bank (ADCB) said it was exploring potential merger talks with two other lenders, while regional stock markets were muted amid continued U.S. trade disputes with other countries.
ADCB on Monday said it was in early merger talks with Union National Bank (UNB) and Al Hilal Bank, which could potentially form a lender with $113 billion in assets.
"Investors are reacting to the positive news of the potential merger ADCB and UNB and possibly Al Hilal Bank," said Tariq Qaqish, managing director of the asset-management division at Mena Corp. Financial Services in Dubai.
"The banking sector globally is moving towards digital, therefore closing branches, focusing on cost to income ratios is vital for banks to compete and able to generate higher returns on equity. The UAE is no different."
ADCB stocks surged 12.8 percent to eight dirhams a share, the highest level since August 2015. Union National Bank jumped 14 percent to 4.4 dirhams, the highest level since March this year.
"The sector in the UAE is overbanked therefore mergers to create bigger entities with better synergy and efficiency is positive for Abu Dhabi," Qaqish added.
Sponsored Stories
The Abu Dhabi Securities Exchange General Index was up 1 percent at 4,989 points.
The Dubai Financial Market General Index was up 0.3 percent, led by real estate and logistics companies.
Damac Properties, the owner and operator of the only Trump-branded golf club in the Middle East, was up 1.5 percent.
Emaar Development, a unit of Dubai property firm Emaar Properties, was up 0.6 percent. Dubai-based courier Aramex was up 1.4 percent.
Middle East stock markets were mostly muted on concerns that trade disputes involving the United States could hurt the global economy.
"The unpredictability of the U.S. trade policies towards global trade partners is affecting investors' appetite towards equity markets," Qaqish said.
Elsewhere in the region, the Saudi Tadawul All-Share Index was up 0.3 percent, while Qatar's benchmark was flat.
Source: Reuters

Clic here to read the story from its source.