Mideast Stocks: Aldar lifts Abu Dhabi, Egypt extends losses

Mideast Stocks: Aldar lifts Abu Dhabi, Egypt extends losses

Abu Dhabi's index closed higher on Monday boosted by gains in Aldar Properties ALDAR.AD following a government projects management deal, while Egypt's stock market extended losses as Commercial International Bank Egypt continues to drop following removal of its chairman by the central Bank.The Abu Dhabi index advanced 1.2% as Aldar Properties surged 14.9%, its biggest daily gain since December 18, 2014.The real estate developer will take over the management and development of government capital projects worth 30 billion dirhams ($8.2 billion) under an agreement with state-backed ADQ. The Egyptian blue-chip index fell 0.9% to extend the losses for an eighth straight day.Commercial International Bank Egypt declined 1.8% in its third consecutive day of fall.On Friday, the chairman of the country's largest lender Hisham Ezz al-Arab stepped down with immediate effect under