Bank results spur mild activity in #Dubai stocks

Bank results spur mild activity in Dubai stocks:

Strong results from Emirates NBD spurred mild buying, triggering a part recovery in Dubai index, Emirates NBD closed 1.1 per cent higher at Dh9.20.

The Dubai Financial Market general index closed 0.64 per cent higher at 2,516.81.

“Banks look promising especially having seen the reduction in provisions despite some lost bps in net interest margins as a result of rapidly growing deposits and a somewhat down economic cycle,” Essam Kassabieh, Senior Financial Analyst at Menacorp said.