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Wednesday, 1 February 2017

MIDEAST STOCKS-Bank shares restrain Abu Dhabi, other Gulf markets move little | Reuters

MIDEAST STOCKS-Bank shares restrain Abu Dhabi, other Gulf markets move little | Reuters:

"Shares in Abu Dhabi's top three banks were mixed in early trade on Wednesday following fourth-quarter earnings, while other Gulf markets moved little. National Bank of Abu Dhabi fell 2.4 percent after it posted a fourth-quarter net profit of 1.33 billion dirhams ($362 million), up 28 percent from the prior-year period and broadly in line with analysts' forecasts. NBAD's board proposed an unchanged cash dividend for 2016. First Gulf Bank was flat after posting a net profit of 1.53 billion dirhams, down 11 percent from the year-earlier period but above the 1.37 billion dirham average forecast of analysts. FGB's board also proposed a flat dividend; it is due to merge with NBAD on April 1. "



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