Drake & Scull, Shuaa and Vodafone Qatar: 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 Dubai Financial Market General Index decreased 1.5 percent, the most since Nov. 8, at the 2 p.m. close in the emirate. Abu Dhabi’s gauge declined 0.5 percent. Qatar’s QE Index surged 1.6 percent.
Advanced Petrochemicals Co. (APPC AB): The Saudi Arabian chemicals producer said its fourth-quarter profit increased to 89.4 million riyals ($23.8 million) from 28.7 million riyals in the year-earlier period. The shares gained 1.1 percent to 26.8 riyals.
Arabian Pipes Co. (APCO AB): The Saudi maker of steel pipes won an 11.8 million-riyal ($3 million) order from Saudi Basic Industries Corp. An impact from the new contract is expected in the second quarter. The shares fell 0.7 percent to 30.7 riyals.
Drake & Scull International (DSI UH): The Dubai-based engineering contractor for the real-estate industry won a 160 million-dirham contract ($44 million) for a government project in Oman. The shares were unchanged at 1.08 dirhams.
Shuaa Capital PSC (SHUAA UH): The investment bank controlled by Dubai’s ruler dismissed Chief Financial Officer David Deards in December and is seeking a replacement, two people with direct knowledge of the matter said Jan. 11. The shares slipped 2.4 percent to 1.24 dirhams.
Vodafone Qatar (VFQS QD): The venture between Vodafone Group LLC and state-controlled Qatar Foundation said its nine- month loss narrowed to 456.8 million riyals ($125.5 million) from 495.6 million riyals in the year-earlier period. The shares were unchanged at 8.3 riyals.
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