In Saudi Arabia, the Tadawul All-Share Index (TASI) slipped 0.49 percent to 6,445.17 points.In Abu Dhabi, telecoms operator Etisalat dragged Abu Dhabi's benchmark to an eight-week low. Etisalat fell 3.3 percent after paying out dividend.Banks saw profit-taking from Tuesday's gains. First Gulf Bank slipped 0.6 percent, Abu Dhabi Commercial Bank shed 0.7 percent and Union National Bank declined 0.3 percent.The Abu Dhabi index dropped 1.2 percent to 2,641 points.Dubai's Emaar Properties ended 0.7 percent lower after the company posted a 69 percent drop in quarterly net profit on Tuesday and missed estimates.The benchmark lost 0.3 percent to a four-week low of 1,507 points. In Oman, the index ended 0.4 percent lower at 5,925 points, after gaining for two days. Five of the ten largest stocks fell with Renaissance Services falling 2.1 percent and Nawras slipping 0.4 percent."On second-quarter numbers, we are comfortable with the Oman banking sector," said Kanaga Sundar, Gulf Baader Capital Markets head of research. "Industry sector earnings came out as a mixed bag for Q2." Telecoms operator Nawras posted a quarterly net profit drop of 13 percent to 10 million rials ($26 million) after the close of trading, missing forecasts.In Kuwait, Gulf Finance House dragged the index 0.4 percent lower at 6,065 points, down for second day in four. GFH tumbled 5.1 percent to take its July losses to 14.5 percent despite its gains this week. Investors have been booking profits in the stock after it soared when its chairman sold his $1.4 million stake in the firm last week. The Qatari benchmark fell 0.3 percent to 8,375 points.The Bahrain measure gained 0.4 percent to 1,305 points.In Egypt, the latest in a series of mass protests, has been scheduled for Friday, adding to the tension in the country. "We are still waiting for next Friday's protest, and no one knows how it will turn out," said investment and capital market analyst Nader Khedr.The benchmark index closed 0.7 percent lower at 5,049 points.Ezz Steel dropped 3 percent, down for a second day after the exchange on Tuesday briefly suspended trading in its shares until the Egypt's top steel producer submits its consolidated results for 2010 and the first quarter of 2011.Cairo-based private equity firm Citadel Capital tumbled 3.9 percent after talks with Abraaj Capital ended without the Dubai-based firm agreeing to buy a stake in its Egyptian rival.Investors across the Gulf reduced positions ahead of the fasting month of Ramadan amid an uncertain global scenario.
