Abu Dhabi's First Gulf Bank surged to a six-month high on Tuesday after its earnings beat forecasts, helping the emirate's index extend a two-week rising trend, and most Gulf Arab markets extended gains.
FGB's shares jumped 9.9 percent to their highest finish since Aug. 1 after the bank reported an 18 percent increase in fourth-quarter profit.
"The strength of FGB's numbers was due to net interest income - this was a good set of numbers ahead of expectations although not dramatically so," said Raj Madha, Rasmala MENA banking analyst.
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