Industries Qatar, Drake & Scull, Sahara: 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.
Commercial Bank of Qatar (CBQK QD): The Persian Gulf country’s second-biggest bank by assets said fourth-quarter profit rose 66 percent to 309 million riyals ($85 million) from the year-earlier period. The mean estimate of five analysts was for a profit of 443 million riyals, according to data compiled by Bloomberg. The shares dropped 2.2 percent to 86.6 riyals.
Drake & Scull International PJSC (DSI UH): The Dubai-based construction engineering contractor said it won a 465 million- dirham ($127 million) contract in Egypt. The shares were unchanged at 1.08 dirhams.
Industries Qatar (IQCD QD): The petrochemicals maker was lowered to "underweight" from "neutral" at HSBC Holdings Plc, with a price estimate of 135 riyals. The shares tumbled 4 percent to 144 riyals.
Mohammad Al-Mojil Group (MMG AB): The Saudi Arabian company that provides services to the construction industry signed an initial accord for a 256 million riyals ($68 million) deal to carry out electrical and mechanical works. The shares rose 4.2 percent to 17.5 riyals.
National Bank of Oman SAOG (NBOB OM): The Persian Gulf country’s second-biggest bank by assets said full-year profit rose to 27.2 million rials ($71 million) from 21.1 million rials. The shares gained 0.9 percent to 0.338 rial.
Qatar Electricity & Water Co. (QEWS QD): The Qatari utility company was rated "buy" in new coverage at Deutsche Bank AG with a price estimate of 165 riyals. The shares retreated 1.5 percent to 132 riyals.
Sahara Petrochemical Co. (SPC AB): The manufacturer of chemicals was lowered to "neutral" from "overweight" at HSBC, with a price estimate of 25 riyals. The shares advanced 1.6 percent to 22.3 riyals.
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