Doha Bank, Industries Qatar, Etisalat: 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.
Qatar’s QE Index advanced 0.6 percent to the highest in more than two years. Saudi Arabia’s gauge was little changed and Dubai’s DFM General Index gained 1.1 percent to 1,706.24, the highest in two weeks.
Commercial Bank of Qatar (CBQK QD): Bank of America Merrill Lynch raised the price estimate of the Qatar’s second-biggest lender by assets by 15 percent to 101 riyals. The shares increased 0.1 percent to 90 riyals.
Doha Bank QSC (DHBK QD): Qatar’s third-biggest bank had its price estimate raised 5.9 percent to 72 riyals at BofA. The shares rose 1.7 percent to 59.5 riyals.
Emirates Telecommunications Corp. (ETISALAT UH): The biggest phone company in the Middle East by market value plans to meet lenders next week in London to discuss terms on more than $10 billion of debt to finance its bid for a stake in Kuwait’s biggest mobile operator, three people familiar with the situation said. The shares retreated 0.5 percent to 10.95 dirhams.
Industries Qatar (IQCD QD): The second-biggest petrochemicals maker in the Middle East had its price estimate raised to 147 riyals from 145 riyals at BofA. The shares gained 0.5 percent to 135.7 riyals.
Qatar National Bank (QNBK QD): The Persian Gulf country’s biggest lender by assets had its price estimate raised 15 percent to 212 riyals at BofA. The shares climbed 1.6 percent to 186.5 riyals.
Qatar Electricity & Water Co. (QEWS QD): The state- controlled utility had its price estimate raised 19 percent to 158 riyals at BofA. The shares climbed 1.2 percent to 126.5 riyals.
To contact the editor responsible for this story: Claudia Maedler in Dubai at firstname.lastname@example.org
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