Abu Dhabi bank shares fickle

08 July 2010

After two flat trading days, the ADX General Index showed some forms of a revival and closed 0.24% higher at 2,528.34 points. First Gulf Bank (FGB) stood 1.05% higher at Dhs14.50 as of the close of trading. The Abu Dhabi-based bank announced today details of its share buy bank from July 7. FGB bought 1.418m shares of 0.1031% of its total share capital back at a price of Dhs14.20 per stock back. The financial sector market leader National Bank of Abu Dhabi (NBAD) weakened 0.90% at Dhs11.00. NBAD is expected to report earnings for the second quarter on July 27. Credit Suisse research expects a slight quarter-on-quarter decline of 6.2%.

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