MIDEAST STOCKS-Most major Gulf markets ease on oil slump, poor earnings | Nasdaq

MIDEAST STOCKS-Most major Gulf markets ease on oil slump, poor earnings | Nasdaq:

Saudi Arabia's benchmark stock index .TASI eased 0.4%, led by a 2.5% fall in petrochemical firm Saudi Basic Industries 2010.SE and a 0.7% drop in National Commercial Bank 1180.SE.

However, Saudi Telecom 7010.SE edged up 0.1% after reporting a 5.9% rise in first-quarter profit.

In Dubai, the benchmark stock index .DFMGI slipped 0.4%, with Emirates Integrated Telecommunications DU.DU falling 2.9% after the firm posted a lower quarterly net profit.

The Abu Dhabi index .ADI slipped 0.2%, hurt by a 2.3% decline in First Abu Dhabi Bank FAB.AD, the country's largest lender.

But the index's losses were capped by a 2.7% gain in Emirates Telecommunications ETISALAT.AD despite reporting a fall in first-quarter profit.

Qatar's index .QSI gained 0.8%, buoyed by a 2.2% rise in Qatar National Bank QNBK.QA, while Mesaieed Petrochemical MPHC.QA climbed 4.1%.