Dana, Kingdom Holding, NBAD, Waha Capital: 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.

Abu Dhabi’s ADX General Index (ADSMI) dropped 0.2 percent and Saudi Arabia’s Tadawul All Share Index declined 0.1 percent.

Commercial Bank of Qatar (CBQK) : The Persian Gulf country’s second-biggest bank by assets said first-quarter profit rose 9 percent to 446 million riyals ($122 million) on gains from interest income. The shares advanced 1.4 percent to 73 riyals.

Dana Gas PJSC (DANA) : The United Arab Emirates energy company is considering a plan to list shares in London, the National reported, without citing anyone. The shares retreated 1.4 percent to 69 fils.

Gulf Bank KSC (GBK) : The Kuwaiti lender said first- quarter net income surged to 9.8 million dinars ($35.4 million) from 0.5 million dinars in the year-ago period. The shares increased 1.9 percent to 540 fils.

Kingdom Holding Co. (KINGDOM) : The investment company controlled by Saudi billionaire Prince Alwaleed bin Talal said first-quarter profit advanced 20 percent to 90.6 million riyals ($24 million) because of investment gains and a decline in expenses. The shares declined 1.8 percent to 8.35 riyals.

Masraf Al Rayan (MARK) : Qatar’s second-biggest Islamic lender said first-quarter profit advanced to 328 million riyals from 302 million riyals a year earlier. The shares gained 0.6 percent to 24 riyals.

Medicare Group (MCGS) QSC: The operator of health clinics in Qatar said first-quarter profit rose to 16 million riyals from 6.1 million riyals a year earlier. The shares retreated 1.8 percent to 22.37 riyals.

National Bank of Abu Dhabi PJSC (NBAD) : The U.A.E.’s second-biggest bank by assets said first-quarter profit fell 10 percent to 927 million dirhams ($252.4 million) as loan-loss charges rose.

Separately, Eshraq Properties, an Abu Dhabi-based real- estate developer, hired the bank, among others, to manage the share sale of the company in May, Eshraq’s Managing Director Sulaiman Al Dhalaan said. The shares declined 0.4 percent to 11.4 dirhams, when they last traded on April 18.

Red Sea Housing Services Co. (REDSEA) : The Saudi Arabian provider of prefabricated housing said first-quarter profit increased to 32.2 million riyals from 24.2 million riyals a year ago. The shares lost 5.6 percent to 54.75 riyals.

Saudi National Petrochemical Co. (PETROCH) : The company also known as Petrochem said its first-quarter loss narrowed to 10.5 million riyals from 43 million riyals in the year-ago period. The shares fell 0.7 percent to 22.35 riyals.

Saudi Telecom Co. (STC) : The Saudi Arabian phone company said first-quarter profit fell 11 percent to 1.57 billion riyals from a year earlier due to a one-off grant to Saudi employees of the company. The shares gained 0.3 percent to 38.3 riyals.

Waha Capital PJSC (WAHA) : The leasing company based in Abu Dhabi said the board will meet April 24 to discuss the timing and terms of a mandatory convertible note sale under a 1 billion-dirham borrowing program. The shares were unchanged at 76 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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