Mideast Stocks: Abu Dhabi underperforms major Gulf indexes – ZAWYA

SourceZawya
SectorFinancial Markets
CountryUnited Arab Emirates

Mideast Stocks: Abu Dhabi underperforms major Gulf indexes The index dropped 0.9%, weighed down by a 1.8% decline in First Abu Dhabi Bank after it reported a 25% fall in quarterly profit    Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. Image for illustrative purposesMajor stock markets in the Gulf retreated on Wednesday, ahead of Eid holidays, as sector leaders First Abu Dhabi Bank and Etisalat dragged the Abu Dhabi bourse lower.The index dropped 0.9%, weighed down by a 1.8% decline in First Abu Dhabi Bank after it reported a 25% fall in quarterly profit on Tuesday, pressured by another quarter of higher impairment charges. The United Arab Emirates' biggest lender reported a net profit of 2.41 billion dirhams ($656.18 million) in the...read more...