x Abu Dhabi, UAEFriday 28 July 2017

Hiring M&A specialist boosts National Bank of Abu Dhabi stocks

Markets Update: National Bank of Abu Dhabi leads markets higher after it announces the appointment of a new specialist in mergers and acquisitions.

National Bank of Abu Dhabi rose to its highest level in a month after the capital's biggest bank said it had hired a specialist in mergers and acquisitions.

The bank said it had hired Michael Aissaoui, former regional head of mergers and acquisitions at Societe Generale, in a statement.

The bank's stocks rose 2.8 per cent to Dh10.75 each in early trading.

The Dubai Financial Market General Index gained 0.8 per cent to 1,345.54, while the Abu Dhabi Securities Exchange General Index climbed 0.4 per cent to 2,351.04.

Gains at Arabtec, Air Arabia and Union Properties pushed Dubai's market upwards.

The Nikkei 225 was flat at 8,765.90, while the Hang Seng Index gained 0.8 per cent to 20,110.37.

S&P500 futures fell, pointing to a lower open on Wall Street.

Crude prices fell as European leaders met in Brussels to discuss an oil embargo, with Greek officials reportedly pressing for a delay to the imposition of sanctions. Brent futures slid 31 cents to $109.32.

Gold prices gained 1.4 per cent, rising to a month-high of $1,670.35.

 

ghunter@thenational.ae