National Bank of Abu Dhabi climbed to its highest point in three months as investors expect minimal exposure to provisions in the first round of financial results.
The second largest lender by assets in the UAE rose 2.02 per cent to Dh10.1, the most since January 2.
"I'd be surprised if [NBAD] reported anything unexpected, they have been steady in terms of profitability for the last few quarters," said Murad Ansari, vice president EFG Hermes in Riyadh.
"NBAD didn't have the same level of provisions as its peers," he said.
Construction companies and developers weighed on the local market as Aldar Properties slumped 2 per cent to Dh1.47 in Abu Dhabi and Arabtec fell 2.4 per cent to Dh1.66 in Dubai.
Emaar Properties was an early gainer on the Dubai market as traders took advantage of the last day they are entitled for dividend payout.
The bellwether property developer rose 0.3 per cent at the open and was one of the more heavily traded stocks, but ended nearly 1 per cent down to Dh3.17. Emaar shareholders late last month approved the distribution of a 10 per cent cash dividend for 2010, its first payout in three years.
The Dubai Financial Market lost 0.7 per cent to 1,537.68 points and the Abu Dhabi Securities Exchange slipped 0.4 per cent to 2,590.14 points.
But fund managers and analysts remained on the sidelines ahead of first quarter results, of which Saudi Arabia is expected to be the first to release.
"It's not about the actual results, but what results are versus expectations," said Irfan Ellam, an analyst at Al Mal Securities in Dubai.
He said traders were focused particularly on the petrochemicals and banking stocks in Saudi Arabia, though the "jury is still out" for stocks in the UAE. The UAE typically announces financial results later than the rest of the GCC.
Elsewhere in the region, Kuwaiti stocks ended flat at 6303.60 points; Doha's market edged 0.4 per cent higher at 8496.25 points; Bahraini shares rose 0.3 per cent at 1418.26 points; and Muscat's market rose 0.3 per cent at 6290.36 points. Saudi shares were trading 0.1 per cent lower at 6596.60 points; while Egypt's market is down 0.7 per cent at 5455.30.
