ADCB, Etisalat, Industries Qatar, NBAD, Sabic. Taqa: 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 declined 0.5 percent to 1,744.63 and Abu Dhabi’s ADX General Index lost 0.2 percent. Qatar’s QE Index rose 0.4 percent. Kuwait’s SE Price Index slipped 0.1 percent and Saudi’s Tadawul All Share Index gained less than 0.1 percent.

Abu Dhabi Aviation Co. (ADAVIATI UH): The United Arab Emirates-based operator of helicopters and airplanes said nine- month profit rose 63 percent to 154 million dirhams ($42 million). The shares jumped 6.8 percent to 2.35 dirhams.

Abu Dhabi Commercial Bank PJSC (ADCB UH): The third-largest bank in the United Arab Emirates by assets reported a seven-fold increase in third-quarter profit, topping analysts’ estimates, as trading income rose and bad loan charges dropped. The shares were unchanged at 2.48 dirhams when they last traded on Oct. 25.

Abu Dhabi National Energy Co. (TAQA UH): The state-run utility known as Taqa hired Bank of Tokyo-Mitsubishi UFJ Ltd. as coordinator to refinance $3.15 billion of credit lines, a person familiar with the matter said. The shares retreated 2 percent to 1.46 dirhams.

Aramex PJSC (ARMX UH): The Middle East’s biggest courier company was lowered to “sell” from “neutral” with a price estimate of 1.71 dirhams at EFG-Hermes Holding SAE. Separately, Aramex was cut to “hold” from “buy” with a share-price estimate of 2.09 dirhams at Naeem. The shares lost 2.3 percent to 2.12 dirhams.

Emirates Telecommunications Corp. (ETISALAT UH): The U.A.E.’s largest phone company was lowered to “neutral” from “add” with a price estimate of 12 dirhams at Securities & Investment Co.. The shares fell 0.4 percent to 11.7 dirhams.

Gulf Finance House EC (GFH BI): The Bahrain-based investment bank said third-quarter loss widened to $115.1 million from $29.3 million a year earlier as it set aside money to cover non-performing loans. The shares were unchanged at 12.5 cents when they last traded on Oct. 12.

Industries Qatar (IQCD QD): The Gulf emirate’s state- controlled petrochemical and steelmaker said it will seek an initial credit rating from an unidentified international agency. The shares advanced 1 percent to 114.1 riyals.

National Bank of Abu Dhabi PJSC (NBAD UH): The U.A.E.’s second-biggest bank reported third-quarter profit of 919.8 million dirhams, missing analysts’ estimates. The shares gained 1.3 percent to 12 dirhams when they last traded on Oct. 25.

Saudi Basic Industries Corp. (SABIC AB): The world’s biggest petrochemicals maker is selling $1 billion of five-year bonds that will be priced to yield 165 basis points more than the benchmark mid-swap rate, according to a person with knowledge of the sale. The shares increased 0.5 percent to 95.5 riyals.

To contact the reporter on this story: Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

To contact the editor responsible for this story Shaji Mathew at shajimathew@bloomberg.net

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