Abu Dhabi Commercial, Dana Gas, Waha: Gulf Equity Preview
The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
Dubai’s DFM General Index (DFMGI) and Saudi Arabia’s Tadawul All Share Index (SASEIDX) gained 0.2 percent. Abu Dhabi’s ADX General Index (ADSMI) increased 0.5 percent to 2,645.85, the highest since March 13.
Abu Dhabi Commercial Bank PJSC (ADCB) : The United Arab Emirates’ third-biggest bank by assets will decide in two to three weeks on whether to sell a 25 percent stake in RHB Capital Bhd., a banker familiar with the matter said. The shares advanced 3 percent to 2.44 dirhams.
Dana Gas PJSC (DANA) : The fuel producer was assigned a “strong buy” recommendation and a share-price estimate of 97 fils at Global Investment House. The shares rose 1.6 percent to 65 fils.
Saudi Electricity Co. (SECO) : The state-controlled power producer awarded a contract valued at 63 million riyals ($16.8 million) to Advanced Electronics Co. to develop a digital-meters project, the Saudi Press Agency reported, citing SEC’s Chief Executive Officer Ali Al-Barrak. The shares climbed 0.7 percent to 13.9 riyals.
Saudi Real Estate Co. (SRECO) : A unit of the Riyadh- based property developer bought a Medina plot for 86.2 million riyals on which it will build 206 houses. The shares jumped 2.5 percent to 24.2 riyals.
Waha Capital PJSC (WAHA) : The Abu Dhabi-based leasing company’s shareholders approved the board’s recommendation to distribute cash dividends equivalent to 3 percent of paid-up capital and bonus shares equivalent to 9.5 percent. The shares increased 1.2 percent to 83 fils.
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