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The Abu Dhabi Financial Market index jumped by 3.5% in Sunday’s session, surpassing 6400 points for the first time in its history, registering its highest close ever>
This increase is mainly due to the rise of First Abu Dhabi Bank’s share by more than 10% during the session, recording its best daily performance in more than a year, surpassing levels of 16 dirhams for the first time since July of 2019.
This rise in the stock is attributed to expectations that MSCI may raise the bank’s weight in its emerging markets index through the review that will be carried out on May 27th.
On May 11, MSCI announced the results of its semi-annual review, which showed the addition of ADNOC Distribution and Emaar Malls’ exit from the MSCI world benchmark.
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