MIDEAST STOCKS-Dubai rises on bank gains; other Gulf markets mixed | Reuters:
The Dubai stock market closed on a positive note on Wednesday helped by solid gains at Emirates NBD after the emirate’s largest bank reported solid quarterly earnings, while other markets were mixed.
The Dubai index climbed 0.6 percent, backed by a two percent rise in Emirates NBD shares after the bank announced a 30 percent increase in second-quarter net profit.
Boosted by a climb in net interest income and a drop in bad loan provisions, the bank made net profit of 2.63 billion dirhams ($716.1 million) in the three months to June 30, up from 2.02 billion dirhams in the corresponding period of 2017.
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