Al-Babtain, Dlala Brokerage, Dubai Islamic: 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) slipped 0.1 percent. Abu Dhabi’s ADX General Index (ADSMI) added 0.1 percent.

Al-Babtain Power & Telecommunication Co. (ALBABTAI) : The Saudi Arabia-based supplier of transmission towers received regulatory approval for a capital increase to 426.3 million riyals ($113.7 million) from 405 million riyals. The shares gained 0.7 percent to 27.8 riyals.

Dlala Brokerage & Investment Holding Co. (DBIS QD): The Qatari asset manager and stockbroker said first-quarter profit almost doubled to 12.1 million riyals ($3.3 million). The shares fell 0.4 percent to 16.8 riyals when they last traded on March 31.

Dubai Islamic Bank PJSC (DIB) : The United Arab Emirates’ biggest bank complying with Shariah banking rules paid 374.7 million dirhams ($102 million) to buy a controlling stake in Tamweel PJSC as the United Arab Emirates’ biggest Islamic lender sought to boost mortgage financing in Dubai. The shares increased 0.5 percent to 2.23 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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.