Aramex, Arriyadh and Drake & Scull: 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.

Saudi Arabia’s Tadawul All Share Index slipped less than 0.1 percent. The ADX General Index dropped 0.6 percent, while the Dubai Financial Market General Index increased 0.2 percent.

Abu Dhabi Islamic Bank (ADIB UH): The United Arab Emirates’ second-biggest bank complying with Shariah banking rules posted a profit of 114.1 million dirhams ($31 million) in the fourth quarter after a loss of 623.3 million dirhams a year-earlier. The shares rose 1.6 percent to 3.11 dirhams when they last traded Feb. 13.

Aramex PJSC (ARMX UH): The Middle East’s largest courier company said it acquired Kenya’s Oneworld Courier and In-Time Couriers. The shares were unchanged at 1.89 dirhams.

Arriyadh Development Co. (ADCO AB): The Saudi real estate developer proposed a 1 riyal per share dividend for 2010. The shares jumped 1.6 percent to 16.3 riyals.

Drake & Scull International (DSI UH): The Dubai-based construction and engineering company reported fourth-quarter profit of 41 million dirhams, missing analysts’ estimates. The shares advanced 4.6 percent to 1.14 dirhams.

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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