The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
Aabar Investments PJSC (AABAR UH): The Abu Dhabi-based company said its shares will cease to trade Aug. 5 as it seeks to complete the delisting of shares. The shares surged 9.6 percent to 1.72 dirhams.
Abu Dhabi Commercial Bank PJSC (ADCB) : Abu Dhabi’s second-biggest bank by assets told a U.K. judge it’s owed about $32 million by a unit of Saudi Arabia’s Saad Group for defaulting on a foreign-currency swap agreement. The shares were unchanged at 1.7 dirhams.
Al Ahli Bank of Kuwait (ABK KK): The company said second-quarter profit more than doubled to 10.95 million dinars ($38 million) from 5.05 million dinars in the year-ago period. The shares slid 3.9 percent to 500 fils.
Arabtec Holding Co (ARTC) : The United Arab Emirates’ biggest builder was raised to “overweight” from “neutral” with a price estimate of 2.15 dirhams at Taib Bank. The shares gained 1.1 percent to 1.81 dirhams.
Doha Bank QSC (DHBK QD): Qatar’s third-biggest bank by revenue posted a less than expected drop in second-quarter profit after the country’s sovereign wealth fund declined to take dividends. Net income fell 5.4 percent to 299.7 million riyals ($82.4 million). That beat the mean estimate of 235.7 million riyals by three analysts surveyed by Bloomberg. The shares lost 0.7 percent to 44.1 riyals.
Emirates Telecommunications Corp. (ETISALAT) : The U.A.E.’s biggest phone company plans to pay an interim dividend of 25 fils share based on the first-half results. The shares declined 0.5 percent to 10.35 dirhams.
Global Investment House KSCC (GLOBAL KK): The Kuwait-based bank said a Dubai court ordered National Bank of Umm Al-Qaiwain PSC to return $250 million to Global which it placed as deposit with the bank in August 2008. The shares retreated 1.9 percent to 51 fils.
Saudi Electricity Co. (SECO) : The state-controlled power producer said second-quarter profit rose to 1.1 billion riyals from 715 million riyals a year earlier. The shares rose 2.7 percent to 13.35 riyals.
Saudi Real Estate Co. (SRECO) : The Riyadh-based property developer said second-quarter profit dropped 88 percent as investment values fell. The shares advanced 0.4 percent to 23.2 riyals.
To contact the editor responsible for this story: Claudia Maedler at email@example.com