Al Rajhi, Dar Al Arkan, Saudi Telecom: Saudi Equity Preview

The following stocks may be active in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index dropped 0.9 percent to 6,657.73 on Jan. 19.

Alahli Takaful Co. (ATC AB): The insurance company said its fourth-quarter loss narrowed to 219,000 riyals ($58,000) from 2.4 million riyals a year earlier. The shares lost 1.1 percent to 70.25 riyals.

Al Rajhi Bank (RJHI AB): Saudi Arabia’s biggest publicly traded lender by market value said fourth-quarter profit rose 14 percent to 1.67 billion riyals as income from lending increased. The shares fell 1.2 percent to 81.5 riyals.

Alinma Bank (ALINMA AB): The Saudi Arabian Islamic bank said fourth-quarter profit soared more than 11 fold to 67 million riyals from 6 million a year earlier. The shares decreased 0.5 percent to 10.6 riyals.

Dar Al Arkan Real Estate Development Co. (ALARKAN AB): Saudi Arabia’s biggest developer by market value said fourth- quarter profit dropped to 330.4 million riyals from 463.7 million riyals a year earlier. The shares retreated 1.5 percent to 9.9 riyals.

Etihad Atheeb Telecommunications Co. (EAT AB): The Saudi Arabian phone company said its net loss for the quarter ended Dec. 31 widened to 143.6 million riyals from 66.8 million a year earlier. The shares retreated 0.3 percent to 14.9 riyals.

Methanol Chemicals Co. (CHEMANOL AB): The producer of methanol derivatives also known as Chemanol posted a 30 percent decline in fourth-quarter profit to 4 million riyals from 5.71 million a year earlier. The shares declined 1.6 percent to 15.15 riyals.

Rabigh Refining and Petrochemicals Co. (PETROR AB): The joint venture between state-owned Saudi Aramco and Sumitomo Chemical Co. of Japan reported a fourth-quarter profit of 52.6 million riyals after a loss of 323.7 million riyals a year earlier. The shares shed 1.1 percent to 22.45 riyals.

Sahara Petrochemical Co. (SPC AB): The manufacturer of chemicals said fourth-quarter profit fell to 43.65 million riyals from 52.24 million riyals. The shares dropped 1.3 percent to 22.3 riyals.

Saudi Arabian Fertilizer Co. SAFCO AB): The unit of Saudi Basic Industries Corp. had its share price-estimate raised to 225 riyals from 170 riyals at AlembicHC, saying the rally in ammonia and urea prices is sustainable. The shares gained 0.4 percent to 180.5 riyals.

Saudi Kayan Petrochemical Co., (KAYAN AB): The unit of Saudi Basic Industries Corp. said its high-density polyethylene plant in Jubail Industrial city began trial operations. The shares retreated 1.5 percent to 19.25 riyals.

Saudi Real Estate Co. (SRECO AB): The Riyadh-based property developer and Knowledge Economic City are forming a joint venture with an initial capitalization of 50 million riyals, Chief Executive Officer Ali Othman Al Zaid told Dubai-based CNBC Arabiya on Jan. 19. Saudi Real Estate is in the final stages of developing 4,000 homes and has stopped working on its project in Jeddah due to regulatory changes, he said. The shares were unchanged at 25.6 riyals. Knowledge Economic shares were also unchanged at 8.05 riyals.

Saudi Telecom Co. (STC AB): The Arab world’s largest phone company said fourth-quarter profit fell 23 percent to 2.3 billion riyals from 2.98 billion riyals a year earlier. The shares rose 0.7 percent to 40.8 riyals.

To contact the reporters on this story: Dana El Baltaji in Dubai delbaltaji@bloomberg.net; Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net; Shaji Mathew at shajimathew@bloomberg.net

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