Mohammad Al-Mojil, Saudi Basic, Shuaa, Tabuk Cement: Gulf Equity Preview

The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

The DFM General Index lost 2.2 percent to 1,481.82, entering bear-market territory for the second time in as many weeks. Saudi Arabia’s Tadawul All Share Index declined 2.7 percent, the most since May 25 and Abu Dhabi’s gauge decreased 0.9 percent.

Mohammad al-Mojil Group (MMG AB): The Saudi company providing services to the construction industry said it received a 49 million-riyal ($13 million) contract from a joint venture of Saudi Arabian Mining Co. (MAADEN AB) and Saudi Basic Industries Corp. Mohammad al-Mojil shares dropped 2.7 percent to 18.40 riyals.

Shuaa Capital PSC (SHUAA UH): The United Arab Emirates’ biggest investment bank said Mohammed Ali Yasin, chief executive officer of its brokerage division, will leave at the end of August. The shares fell 0.9 percent to 1.12 dirhams.

Saudi Basic Industries Corp. (SABIC AB): The world’s largest petrochemicals company said it signed a 4.5 billion- riyal credit facility with National Commercial Bank. The shares retreated 3.9 percent to 87 riyals.

Tabuk Cement (TACCO AB): The Saudi Arabian cement maker said its board set a first-half dividend of 0.90 riyal a share, or 81 million riyals. The company also appointed Eisa bin Yaslam Baeisa as general manager. The shares declined 2.9 percent to 18.25 riyals.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

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