Aamal, Al Ahli Bank, Etisalat, NBK, Waha Capital, Zad: 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.
Aamal Co. (AHCS QD): The Qatar-based diversified investment company said its nine-month profit declined 27 percent to 152.5 million riyals ($42 million). The shares were unchanged at 20.6 riyals.
Al Ahli Bank of Kuwait KSC (ABK KK): The lender said third- quarter profit surged almost four-fold to 15.3 million dinars ($54 million). The shares increased 1.6 percent to 630 fils.
BBK (BBK BI): The bank formerly known as Bank of Bahrain and Kuwait sold $500 million of five-year bonds that were priced to yield 337.5 basis points more than the benchmark mid-swap rate. The shares climbed 0.5 percent to 0.432 dinar.
Emirates Telecommunications Corp. (ETISALAT UH): The United Arab Emirates’ largest phone company is confident in obtaining financing to purchase a 46 percent stake in Kuwait’s biggest phone company Mobile Telecommunications Co. and has appointed two financial advisers, the company’s Chairman Mohammed Omran said. The shares advanced 0.9 percent to 11.7 dirhams.
National Bank of Kuwait (NBK KK): The emirate’s biggest lender raised its capital by 10 percent to 360 million dinars and said the capital increase was more than five times oversubscribed. The shares fell 1.4 percent to 1,380 fils.
Waha Capital PJSC (WAHA UH): The Abu Dhabi-based leasing company said third-quarter profit soared to 37 million dirhams in the third-quarter from 2 million the year earlier. The shares were unchanged at 79 fils.
Zad Holding Co. (ZHCD QD): The Qatar-based importer of wheat posted a 5 percent increase in nine-month profit to 69.5 million riyals. The shares were unchanged at 60.6 riyals.
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