Industries Qatar, National Central Cooling: 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.
The QE Index retreated 0.3 percent, the most since Nov. 28, to 8,750.02. The Dubai Financial Market General Index decreased 0.5 percent. Saudi Arabia’s Tadawul All Share Index ended little changed, down 0.1 percent to 6,455.99, the lowest since Dec. 7.
Basic Chemical Industries (BCI AB): The Saudi chemicals maker said its board recommended distributing a 2010 dividend of one riyal a share, or 27.5 million riyals ($7.3 million). The shares rose 1.1 percent to 28.6 riyals, the highest in almost a month.
Industries Qatar (IQCD QD): The second-biggest petrochemicals maker in the Middle East had its share-price estimate raised to 165 riyals from 150 riyals at AlembicHC. The shares fell 0.4 percent to 133.9 riyals.
National Central Cooling Co. (TABREED UH): The United Arab Emirates utility that is restructuring debt received regulatory approval to reduce its capital by cancelling 970 million shares. The shares slipped 0.5 percent to 41.3 fils.
Saudi Industrial Investment Group (SIIG AB): The board of the Saudi investor in petrochemicals projects recommended distributing a 2010 dividend of 0.5 riyals a share or 225 million riyals. The shares were unchanged at 21.85 riyals.
To contact the editor responsible for this story: Claudia Maedler in Dubai at email@example.com