Mideast Stocks: Poor earnings weigh on UAE indexes; Saudi trades flat – ZAWYA

Mideast Stocks: Poor earnings weigh on UAE indexes; Saudi trades flat – ZAWYA

The Abu Dhabi index declined 0.8% as First Abu Dhabi Bank , the country's largest lender, retreated 1.1% ahead of its board meeting to approve financials.. Abu Dhabi Commercial Bank fell 1.5% on weak fourth-quarter earnings and a lower annual dividend.. The bank recorded a net profit of 1.05 billion dirhams for the three months to Dec. 31, down from 1.24 billion a year earlier.. Abu Dhabi Commercial Bank recommended a full-year cash dividend of 0.38 dirham per share compared with 0.46 dirham a year ago..