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Etisalat shares close at a six-month high

12 October 2010

The ADX General Index closed 0.34% lower at 2,712.42. In its latest research report for the fourth quarter of 2010, "Global View", Swiss Private Bank Sarasin anticipates a slowdown in the pace of economic growth. "Double-dip recession and deflation will continue to be the dominant themes for financial markets up to the end of the year", the study says. Shares of Etisalat bucked the trend, closing 1.39% higher at a six-month high at Dhs11.05. Etisalat aims to buy 46% in Kuwait's rival Zain, it revealed on September 29. Real estate development bellwether Aldar Properties plummeted 2.39% on profit bookings to end at Dhs2.48.

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