Markets welcome Emirates NBD results

Emirates NBD rose the most since April after the Dubai-based lender said second quarter profits jumped 87 per cent as investment income increased and loan loss charges dropped.

The stock rose 6.8 per cent to Dh4.38 on the Dubai Financial Market at 10:22am.

Net income, excluding minority interest, increased to Dh744.5 million from Dh398.2 million dirhams, in the same period last year.

The Dubai Financial Market General Index lost 0.1 per cent to 1,518.66 points, while the Abu Dhabi Securities Exchange General Index was down 0.2 per cent to 2680.15 points.

Elsewhere in the region, Kuwait's index lost 0.3 per cent to 6056.40 points, Bahrain's measure was unchanged at 1298.35 points. Oman's index added 0.3 per cent to 5946.59 points, Qatar's benchmark was unchanged at 8403.98 points. The Saudi Tadawul All-Share Index was unchanged at 6525.34 points.

halsayegh@thenational.ae