MIDEAST STOCKS-Lender FAB weighs on Abu Dhabi; cement producers lift Saudi - Reuters:
The Abu Dhabi stock market fell on Tuesday for the fifth straight day, dragged down by First Abu Dhabi Bank, the largest bank in the United Arab Emirates, while strong earnings by some cement producers boosted Saudi Arabia’s index.
The Abu Dhabi index slipped 1 percent, with First Abu Dhabi Bank shedding 2.4 percent after reporting its first-quarter results. The lender reported a rise in its first-quarter profit, but saw a fall in customer deposits, net interest margins and a rise in expenses.
Saudi Arabia’s main index rose 0.7 percent, with 13 of 14 cement producers gaining after Yamama Cement and City Cement’s first-quarter results.
No comments:
Post a Comment