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Abu Dhabi Islamic Bank gains on higher nine-mont profit

The ADX General Index closed 0.17% higher at 2,454.85 points. Abu Dhabi Islamic Bank or ADIB gained 0.63% to reach Dhs3.20. Earlier in the day ADIB reported a decrease of a third in net profits for the third quarter year-on-year, amounting to Dhs55.18m. However, ADIB's nine-month profit increased 53% to reach Dhs237m. Aldar Properties and Sorouh closed again unchanged at Dhs1.00 and Dhs0.92 respectively. So did Abu Dhabi National Energy Co. or Taqa. Earlier in the day, Taqa said that Carl Sheldon has been appointed CEO, succeeding Mr. Abdulla Saif Al Nuaimi who stepped down in July 2011 to focus on his role Director General Abu Dhabi's utility monopolist ADWEA. "Carl was previously TAQA's General Counsel and Deputy General Manager. Prior to joining TAQA, he was a Partner at Allen & Overy LLP where his main focus was the energy sector," according to his bio, posted on Taqa's website. Some 24.8m shares worth Dhs40.5m changed hands at the ADX.