MIDEAST STOCKS-Most Gulf bourses fall on weak corporate earnings; Abu Dhabi gains

By Mohd Edrees Feb 14 (Reuters) - Most Gulf stock markets ended lower on Tuesday, weighed down by oil prices and weaker-than-expected corporate earnings, while the Abu Dhabi index recouped early losses. Oil prices - a key contributor to the Gulf's economies - slid more than 1% after the U.S. government said it would release more crude from its Strategic Petroleum Reserve. Brent crude futures fell $1.06, or 1.22%, to $85.56 a barrel by 1152 GMT. Dubai's benchmark stock index settled 0.3% lower to snap nine sessions of rally, dragged down by losses in utilities, industry and communication sectors. Air Arabia tumbled 3.4%, its worst day since early May, after the low cost-carrier posted a 24% decrease in its fourth-quarter net profit. The Abu Dhabi index edged up 0.1%, helped by a 0.25% rise in Conglomerate International Holding Co ahead of reporting annual earnings later in the day. After trading hours, Conglomerate reported 175% growth in full-year net profit to 31.86 billion dirhams ($8.68 billion). Saudi Arabia's benchmark stock index eased 0.2%, dragged down by losses in financial and health care sectors. Arab National Bank slipped 3.2% after the lender missed market estimates of 3.20 billion riyals for full-year profit. It reported net profit of 3.07 billion riyals, a 41% from 2021. Outside the Gulf , Egypt's blue-chip index rose 1.3%, boosted by a 7.7% surge in Juhayna Food Industries after the firm appointed Seif El-Din Safwan Thabet as vice-chairman and CEO. SAUDI ARABIA down 0.22% to 10,497 ABU DHABI edged 0.1% to 9,942 DUBAI lost 0.3% to 3,459 EGYPT gained 1.3% to 17,431 BAHRAIN up 0.1% to 1,938 OMAN declined 2.6% at 4,619 KUWAIT fell 0.1% to 8,190 ($1 = 3.6537 Qatar riyals) ($1 = 3.6726 UAE dirham) (Reporting by Mohd Edrees in Bengaluru; Editing by Maju Samuel)