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Financials soar at Abu Dhabi bourse ADX
- United Arab Emirates: Wednesday, October 17 - 2012 at 16:22
The ADX General Index gained the third day straight Wednesday, closing at 2,655.92 points. Finance House or FH gained the most (up 3.83% at Dhs3.25) after the financial services firm reported a 19% net profit increase for the nine-month period. In addition, FH said it plans a share buyback of 10% of the company's shares issued. Union National Bank or UNB advanced 1.63%. Earlier in the day, UNB said it earned in the third quarter a total comprehensive income of Dhs492.7m, up from Dhs479.7m in the same period last year. After reaching seven-month highs Tuesday, merger candidates Aldar Properties and Sorouh Real Estate slipped 0.73% and 0.78%, respectively, on profit booking.
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Gérard Al-Fil, Financial JournalistWednesday, October 17 - 2012 at 16:22 UAE local time (GMT+4)
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