Abu Dhabi Islamic Bank, Etisalat, Zain, Tabuk Cement: Gulf Equity Preview
The following stocks may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
Abu Dhabi’s measure advanced 0.7 percent to 2,721.68, the highest in almost five months. The Dubai Financial Market General Index increased 0.3 percent while Saudi Arabia’s Tadawul All Share Index retreated 0.8 percent.
Abu Dhabi Islamic Bank PJSC (ADIB UH): The United Arab Emirates’ second-biggest lender complying with Shariah hired three banks to help sell bonds, according to two bankers familiar with the plan. The shares surged 5.4 percent to 3.12 dirhams.
Tabuk Cement Co. (TACCO AB): The Saudi clinker maker said third-quarter profit declined to 23.8 million riyals ($6.3 million) from 24.2 million riyals in the year-earlier period on maintenance costs. The shares were unchanged at 18.05 riyals.
Mobile Telecommunications Co. (ZAIN KK): The Kuwaiti phone company known as Zain hasn’t yet received any request from Emirates Telecommunications Corp. (ETISALAT UH) to carry out due diligence, Zain Chief Operating Officer Barrak al-Sabeeh said. Zain shares jumped 3 percent to 1,380 fils and Etisalat shares climbed 0.5 percent to 10.8 dirhams.
To contact the editor responsible for this story: Claudia Maedler in Dubai at firstname.lastname@example.org.
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