MIDEAST STOCKS-Banks aid Saudi index as FAB weighs on Abu Dhabi - Agricultural Commodities - Reuters:
Saudi Arabian stocks edged up on Tuesday, bolstered by banking, while weak earnings by top lender First Abu Dhabi Bank (FAB) weighed on Abu Dhabi.
Saudi Arabia’s benchmark index added 0.2% amid choppy trade, as Riyad Bank advanced 1.9% and Saudi British Bank was up 2.7%.
But oil giant Saudi Aramco retreated 0.5% amid concern about dwindling capacity to store crude worldwide.
Brent crude futures were down 5.8%, or $1.15, at $18.84 a barrel by 0751 GMT.
The Abu Dhabi index declined 1%, led by a 2.7% fall in First Abu Dhabi Bank (FAB).
The biggest lender in the United Arab Emirates reported a 22% drop in quarterly profit on Monday, hit by interest rate cuts and impairment charges.
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