Ajman Bank was up 3.5 percent after full-year profit jumped by 28 percent to 170 million dirhams ($46.3 million). Saudi Arabia's main index rose 0.5 percent, helped by petrochemical and bank shares. Its biggest lender, National Commercial Bank (NCB), rose 0.8 percent in heavy trade. NCB is expected to pick JPMorgan to advise on merger talks with smaller rival Riyad Bank, Reuters reported, citing sources familiar with the matter. Riyad Bank added 0.1 percent.
Samba Financial Group, Saudi's third-largest bank by assets, rose 2.2 percent after a 10 percent jump in 2018 net profit. Egypt's blue-chip index eased by 0.2 percent, with declines for 23 of its 30 stocks, mirroring a dip in emerging markets. EFG Hermes was down 2.3 percent and Eastern Co fell by 2.1 percent. In Qatar, blue-chips Qatar Gas Transport and Qatar Insurance rose 3.6 percent and 2.9 percent respectively, pushing the index up by 0.2 percent.
Qatar National Bank lost 0.5 percent as investors booked profits after it announced a 5 percent jump in full-year net profirt on Tuesday. The Abu Dhabi index edged up by 0.1 percent as telecoms company Emirates Telecommunications Group added 0.4 percent and National Bank of Ras Al Khaimah gained 2.2 percent.