Drake & Scull, Kuwait Portland, Dana, Omantel, TAQA: 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 DFM General Index rose 0.5 percent to 1,715.48 and Abu Dhabi’s ADX General Index gained 0.3 percent. Saudi Arabia’s market is closed for the weekend.

Abu Dhabi National Energy Co. (TAQA UH): The government- controlled utility known as Taqa aims to complete talks next week on a credit facility of as much as C$1 billion. The shares climbed 3.5 percent to 1.17 dirhams.

ACICO Industries (ACICO KK): The Kuwaiti building-material maker said first-quarter profit increased 30 percent to 2.8 million dinars ($9.7 million). The shares gained 1.5 percent to 350 fils.

Al-Ahleia Insurance Co. (AINS KK): The Kuwaiti insurer said first-quarter profit dropped 12 percent to 2.4 million dinars from 2.71 million dinars a year earlier. The shares lost 5.4 percent to 440 fils.

Arab Insurance Group BSC (ARIG BI): The Bahrain-based insurer posted a first-quarter profit of $4.5 million. The shares increased 1.6 percent to 62 cents when they last traded on May 6.

Commercial Real Estate Co. (ALTIJARI KK): The Kuwaiti property developer’s first-quarter profit dropped to 2.85 million dinars from 7.17 million dinars. The shares were unchanged at 81 fils.

Dana Gas PJSC (DANA UH): The oil and gas producer posted a first-quarter profit of 33 million dirhams ($9 million) after a 32 million dirham loss in the year-earlier period. The shares dropped 1.2 percent 80 fils.

Drake & Scull International PJSC (DSI UH): The Dubai-based company plans acquisitions in Saudi Arabia in the second half, Chief Executive Officer Khaldoun Rachid Tabari said in an interview with Al Arabiya TV. The shares advanced 1.4 percent to 90 fils.

Kuwait Portland Cement Co. (PCEM KK): The Kuwaiti cement and building materials trader said first-quarter profit rose to 6.35 million dinars from 2 million dinars a year ago. The shares were unchanged at 1,500 fils.

Oman Telecommunications Co. (OTEL OM): The sultanate’s biggest telephone company said first-quarter profit fell 15 percent to 32.4 million rials ($84.2 million) on expenses. The shares gained 0.8 percent to 1.257 rials.

To contact the reporters on this story: Dana El Baltaji in Dubai delbaltaji@bloomberg.net

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