Air Arabia, Halwani, Kingdom, Zain Saudi: 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 increased 1.6 percent to the highest since Jan. 27. The ADX General Index rose 1.1 percent, while Saudi Arabia’s Tadawul All Share Index gained 0.8 percent. Kuwait’s SE Price Index retreated 0.4 percent.

Air Arabia (AIRARABI UH): The Middle East’s biggest low- cost airline took the delivery of two A32O aircraft last month, Emirates News Agency reported. The shares increased 1.6 percent to 82 fils.

Halwani Brothers Co. (HB AB): The Saudi food processing company closed manufacturing operations because of damages from the flood in Jeddah on Jan. 25, Chief Executive Officer Saleh Hefni said. The shares rose 1.4 percent to 36.7 riyals.

Kingdom Holding Co. (KINGDOM AB): The investment company controlled by Saudi billionaire Prince Alwaleed Bin Talal said it extended by one week a deadline for its offer to acquire Mobile Telecommunications Co.’s 25 percent stake in Zain Saudi Arabia. Kingdom fell 0.5 percent to 9.6 riyals, while Zain Saudi Arabia (ZAINKSA AB) rose 2 percent to 7.75 riyals.

United Industries Co. (UIC KK): The investor in manufacturing companies had a full-year profit of 4 million dinars ($14.3 million) after a loss of 7.4 million dinars the year earlier. The shares were unchanged at 140 fils.

To contact the reporter on this story: Zahra Hankir in Dubai at Zhankir@bloomberg.net;

To contact the editor responsible for this story: Claudia Maedler at Cmaedler@bloomberg.net

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