Major stock markets in the Gulf were mixed in early trade on Wednesday, as investors awaited earnings reports, while Abu Dhabi's index gained on results from First Abu Dhabi Bank.

In Abu Dhabi, the index climbed 1%, buoyed by a 4.6% jump in the United Arab Emirates' biggest lender First Abu Dhabi Bank (FAB).

FAB - on course for its best day since late July - reported a 21% rise in third-quarter net profit to 5.39 billion dirhams ($1.47 billion), above analysts' average estimate of 4.54 billion dirhams.

Elsewhere, Abu Dhabi Islamic Bank - whose trading was suspended ahead of its earnings announcement - was last up 4%.

Saudi Arabia's benchmark index edged 0.1% higher, helped by a 1.5% rise in oil behemoth Saudi Aramco. Oil prices - a catalyst for the Gulf's financial markets - pushed higher for a second day on Wednesday, rising by about 2%, buoyed by sanctions-related supply risks and hopes of a U.S.-China trade deal.

Among other gainers, telecoms firm Etihad Etisalat advanced 3.4%, after reporting a rise in third-quarter profit.

However, Sahara International Petrochemical Company (Sipchem) plunged 4.6% - to be the top loser on the index - as the firm turned to quarterly losses.

Sipchem posted a net loss of 468.7 million riyals ($124.97 million), compared to a profit of 103.2 million riyals from the previous year.

The International Monetary Fund, which raised its 2025 growth outlook for the Middle East and North Africa last week, has said that risks for the region are still tilted to the downside, despite a recent improvement in geopolitical tensions.

Dubai's main share index was flat, with Emirates NBD rising 0.7%, as the top lender is slated to report its quarterly earnings.

The Qatari index eased 0.1% in choppy trade, hit by a 0.4% fall in Qatar Islamic Bank as the shariah-compliant lender is set to announce its nine-month earnings.

($1 = 3.7504 riyals)

($1 = 3.6729 UAE dirham)

(Reporting by Ateeq Shariff in Bengaluru; Editing by Ronojoy Mazumdar)