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Bahrain bourse gains BHD 51 mln, AUB tops gainers

Bahrain bourse gains BHD 51 mln, AUB tops gainers
Bahrain bourse indices advanced on Thursday, with Bahrain All Share Index adding 0.65%, or 9.02 points, to 1,389.05 points. Esterad index rose 0.83% to 1,416.36 points.
“The main index closed in green after four days of decline amid very weak liquidity,” Ahmed Imam, technical analyst and member of the Egyptian Society of Technical Analysts (ESTA) said.
He expects the index to witness sideways performance between 1,370 and 1,390 points until breaking through 1,390 level with increased volume and values of trading to extend its upside trend.
A total of 3.07 million shares changed hands at a total value of BHD 813.900.
The market value lost BHD 51 million to reach BHD 7,900 billion.
Out of 5 stocks traded Thursday, 3 stocks declined, one other stock advanced while the remaining stock was unchanged.
Commercial Gulf Bank was the worst performer, dipping 3.64%, to BHD 3.64.
Ahli United Bank was the only mover to the upside by 3.18% to $ 0.810. AUB was the most active share by trading and values with 1.67 shares exchanged worth BHD 514.990.
AUB is evaluating a sale or a merger with a rival bank in a potential $5 billion deal, several bankers familiar with the situation said.
According to Thomson Reuters data, a deal of this size would be the largest banking transaction in the region for the past 20 years, beating Emirates Bank's $3.7 billion acquisition of National Bank of Dubai in 2007 and Qatar National Bank's $1.9 billion purchase of Societe Generale's Egyptian business in 2012.