Agthia, Industries Qatar, Qatar Telecom: 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.
Agthia Goup PJSC (AGTHIA UH): The United Arab Emirates- based food producer signed a license agreement with Chiquita Brands International Inc. to manufacture and distribute Chiquita brand products in the Middle East. The shares dropped 0.5 percent to 1.86 dirhams.
Emirates Telecommunications Corp. (ETISALAT UH): The Abu Dhabi-based phone company seeking control of Kuwait’s Zain (ZAIN KK), or Mobile Telecommunications Co., missed a second deadline in its attempt to acquire a 46 percent stake for $12 billion, Zain’s second-biggest shareholder, National Investments Co., said. Etisalat shares declined 0.5 percent to 10.85 dirhams. Zain shares retrated 1.5 percent to 1,360 fils.
Gulf Navigation Holding (GULFNAV UH): The Dubai-based shipping company was raised to “neutral” from “sell” and assigned a 12-month share-price estimate of 34 fils at EFG- Hermes Holding. The shares jumped 4.8 percent to 32.5 fils.
Industries Qatar (IQCD QD): The Gulf emirate’s state- controlled petrochemical and steelmaker said full-year profit rose to 5.6 billion riyals ($1.5 billion) from 5 billion riyals in 2009. The shares decreased 1.2 percent to 128.6 riyals.
National Industries Group of Kuwait (NIND KK): The largest industrial investment company in Kuwait had its ratings lowered to B2 from B1 at Moody’s Investors Service. The outlook ion the ratings remains negative. The shares tumbled 6.9 percent to 270 fils.
Qatar Telecom QSC (QTEL QD): The Persian Gulf nation’s largest company by revenue said fourth-quarter profit fell 5 percent amid increased competition in its home market and a margin on earnings declined. The shares rose 2.7 percent to 150 riyals.
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