DUBAI, April 20 (Reuters) - A steep overnight decline in oil prices may hurt oil-sensitive shares in the Gulf on Thursday but positive earnings from the largest bank in the United Arab Emirates may boost Abu Dhabi's index.
Brent crude
That was aided by a 145.5 percent jump in "other non-interest" income while loan impairment charges dipped 3.9 percent. The merger is expected to produce cost savings of 500 million dirhams, the bank said.
Abu Dhabi National Energy Co
Earlier this month TAQA said the state-owned utility company had raised its stake in the company to 74 percent from 52.38 percent after granting TAQA land valued at 18.7 billion dirhams that could potentially offset accumulated losses. Shares in TAQA have risen almost 8 percent since the start of the month.
In Saudi Arabia, shares in cement companies may remain under pressure as yet another producer posted a double-digit decline in first-quarter earnings. Qassim Cement
(Reporting by Celine Aswad; Editing by Andrew Torchia) ((celine.aswad@thomsonreuters.com)(+9715 62247653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))
Keywords: MIDEAST STOCKS/