Deyaar, Jazeera Air, Saudi Kayan, Global Investment: 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 slid 0.7 percent to 1,472.09, the lowest since July 4 at the close in the emirate. Qatar’s QE Index fell 0.6 percent and Kuwait’s gauge declined 0.1 percent. Saudi Arabia’s Tadawul All Share Index lost 1.1 percent.
Commercial Facilities Co. (FACIL KK): The Kuwaiti consumer finance company said second-quarter profit slumped 49 percent to 4.7 million dinars ($16.3 million). The shares were unchanged at 310 fils.
Deyaar Development (DEYAAR UH): The property developer part-owned by Dubai Islamic Bank PJSC had a loss of 243 million dirhams ($66 million) in the second quarter. That compares with a profit of 76.4 million dirhams a year ago, according to Bloomberg data. The shares gained 0.3 percent to 30.7 fils.
Global Investment House KSCC (GLOBAL KK): The Kuwait-based bank said its first-half loss narrowed to 34.4 million dinars from 98.6 million dinars a year-earlier. The shares fell 1.5 percent to 64 fils.
Jazeera Airways (JAZEERA KK): The Kuwait-based low-cost airline said its second-quarter loss widened to 4.7 million dinars ($16.4 million) from 1.3 million dinars in the year- earlier period. The shares were unchanged at 110 fils, when they last traded on Aug. 10.
Saudi Kayan Petrochemical Co. (KAYAN AB): The Saudi petrochemicals maker got a 4.5 billion riyals ($1.2 billion) loan from National Commercial Bank, to finance part of the cost of its Jubail petrochemicals plant. The Shares declined 1.5 percent to 17.05 riyals. The seven-year loan is guaranteed by Saudi Basic Industries Corp. (SABIC AB), which holds a 35 percent stake in Kayan. Sabic’s shares retreated 0.3 percent to 85.75 riyals.
Union Properties PJSC (UPP UH): The Dubai-based real-estate developer said its second-quarter loss widened to 349.4 million dirhams from 228 million dirhams a year ago. The shares gained 0.8 percent to 36.9 fils.
United Gulf Bank BSC (UGB BI): The Bahrain-based investment bank said second-quarter profit rose to $24.3 million from $5.6 million the year earlier. The shares were unchanged at 0.356 dinar when they last traded on Aug. 5.
To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net
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