National Bank of Oman, NBK, Oman Cable, Sabic, Samba: Gulf Equity Preview
The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
The Dubai Financial Market General Index lost 0.4 percent to 1,816.43, the lowest in a week. Abu Dhabi’s measure gained 0.1 percent, while Kuwait’s index declined 0.2 percent. Qatar’s measure lost 1.2 percent and Oman’s measure gained less than 0.1 percent. Saudi Arabia’s Tadawul All Share Index fell 0.1 percent.
Dar Al Arkan Real Estate Development Co. (ALARKAN AB): Saudi Arabia’s biggest developer by market value said first- quarter profit declined 6.1 percent to 398.6 million riyals ($106.3 million) as property prices fell. The shares lost 1.1 percent to 13.85 riyals.
National Bank of Kuwait SAK (NBK KK): The country’s largest lender said first-quarter profit rose 20 percent to 76.3 million dinars ($265 million), bolstered by income from expansion in Egypt and Qatar. The shares were unchanged at 1,220 fils.
National Bank of Oman SAOG (NBOB OM): The Persian Gulf country’s second-biggest bank by assets said first-quarter profit declined 10 percent to 6.57 million rials ($17 million). The shares declined 0.6 percent to 0.344 rials.
Oman Cable Industry SAOG (OCAI OM): The sultanate’s biggest cables and wires maker by market value posted a first-quarter profit of 1.7 million rials compared with a loss of 950,000 rials in the year-earlier period. The shares dropped 2.3 percent to 1.442 rials.
Samba Financial Group (SAMBA AB): Saudi Arabia’s second- largest bank by market value said first-quarter profit declined 4.8 percent to 1.21 billion riyals. The shares fell 1.2 percent to 60.25 riyals.
Saudi Basic Industries Corp. (SABIC AB): The world’s largest petrochemical maker posted a first-quarter profit of 5.43 billion riyals on renewed global demand for fertilizers and plastics. The shares were unchanged at 103.25 riyals.