By: Mahmoud Gamal
Abu Dhabi – Mubasher: Five UAE listed stocks in the banks sector saw a positive performance in Monday’s mid-session, after denying merger news.
In Abu Dhabi’s bourse, Abu Dhabi Commercial Bank (ADCB) rose 3.23% by 10:40am UAE time, with a turnover of AED 266,430.
First Gulf Bank (FGB) went up 1.7% after generating AED 855,230. Similarly, National Bank of Abu Dhabi (NBAD) added 0.4%, gaining AED 880,000.
Dubai-listed Amlak Finance rose 1.6% and generated AED 2.81 million, while Ajman Bank gained 0.8%, registering trades worth AED 2,990.
Abu Dhabi Islamic Bank (ADIB), ADCB and Union National Bank (UNB) announced on Sunday that their executive managements did not discuss any mergers.
The stocks of these banks saw temporary losses after denying the merger news, capital market analyst Amir Mansour said.
These three banks have good financial basics which will lead long-term investors to make use of their stocks, which currently stand at attractive price levels, the analyst added.
Translated by: Julian Nabil
