DP World, Jabal Omar and RAK Ceramics: 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.
The DFM General Index fell 0.9 percent, the most since Jan. 30, while the ADX General Index rose 0.8 percent. Kuwait’s SE Price Index retreated 0.7 percent and Saudi Arabia’s Tadawul All Share Index gained 0.3 percent.
Al-Qurain Petrochemicals Co. (ALQURAIN KK): The Kuwait- based maker of plastics and chemicals had a full-year loss of 1.9 million dinars ($6.8 million) from a profit of 7.1 million dinars the year earlier. The shares decreased 3.1 percent to 188 fils.
DP World Ltd. (DPW DU): The world’s fourth-biggest port operator resumed all operations at its Sokhna port in Egypt after “a short suspension.” DP World said Jan. 31 it temporarily suspended operations as a “precautionary measure” following the protests demanding the ouster of President Hosni Mubarak. The shares were unchanged at $0.625.
Jabal Omar Development Co. (JOMAR AB): The real-estate developer in Saudi Arabia’s holy city of Mecca obtained a 250 million-riyal ($67 million) loan from Saudi British Bank to complete construction of the first phase of its Mecca project. The shares retreated 0.9 percent to 16.10 riyals.
Ras Al Khaimah Ceramics (RAKCEC UH): The world’s biggest maker of ceramic tiles said full-year profit rose to 270.2 million dirhams ($74 million) from 261.9 million dirhams the year earlier. The shares rose 1.5 percent to 2.64 dirhams.
Qatar National Bank (QNBK QD): The country’s biggest lender said it received regulatory approval to buy 49 percent of Libya’s Bank of Commerce & Development. The shares fell 0.3 percent to 146 riyals.
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