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Abu Dhabi Commercial Bank gains on RHB sale

In Abu Dhabi, the local bourse ADX started the week positively by adding 0.51%, closing at 2,775.44 points. Abu Dhabi Commercial Bank, known and branded as ADCB, surged 1.86% to reach Dhs3.28. ADCB has attracted media attention after the central bank of Malaysia has approved the sale of the bank's stake in RHB Capital Berhard last Thursday, June 16th. ADCB's 24.90% stake is sold to Abu Dhabi's investment company Aabar for Dhs7bn ($1.91bn), bringing ADCB a net profit of $272m. Due to dull trading, a number of blue chips such as Dana Gas, Aldar and Sorouh closed flat on Sunday. Ten shares gained while nine lost and nine closed unchanged. Around 58.3m stocks valued at Dhs107.7m changed hands.