Shares in Abu Dhabi's ADCB jump after 91 per cent profit leap

Markets Update: Abu Dhabi Commercial Bank jumps 3.6 per cent in early trade after net profit increased 91 per cent.

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Abu Dhabi Commercial Bank, the country's third largest lender, rose the most in almost three weeks after third-quarter profit increased 91 per cent.


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The shares jumped 3.6 per cent, the most since Oct 6, to Dh2.89 a share.

Net profit rose to Dh607.6 million, compared with Dh317.7 million in the same period last year.

The Abu Dhabi Securities Exchange General Index added 0.1 per cent to 2455.34 points, while the Dubai Financial Financial Market General Index was little changed at 1352.87 points.

Dubai Financial Market Company, the only bourse to ever sell its shares to the public, is suspended for trading and expected to release third quarter results after market close.

Elsewhere in the region, Kuwait's index slipped 0.1 per cent to 5895.60 points. Bahrain's index gained 0.3 per cent to 1147.82 points. Oman's index was little changed at 5545.25 points. Qatar's index lost 0.2 per cent to 8435.16 points. The Saudi Tadawul All-Share Index added 0.3 per cent to 6155.18 points.