Dar Al Arkan, Emaar Economic, Rabigh: Saudi Equity Preview

The following stocks may rise or fall in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index (SASEIDX) advanced 0.8 percent, the most since April 2, to 6,574.66.

Advanced Petrochemicals Co. (APPC) of Saudi Arabia (APPC AB): The Saudi Arabian chemicals producer said it signed a Shariah- compliant refinancing deal valued at $216.7 million with Samba Financial Group (SAMBA) and Riyad Bank (RIBL) . Advanced shares rose 1.2 percent to 32.6 riyals.

Dar Al Arkan Real Estate Development Co. (ALARKAN) : Saudi Arabia’s biggest developer by assets said first-quarter profit dropped to 273.1 million riyals ($72.8 million) from 398.6 million riyals a year earlier as sales dropped. The shares retreated 1.6 percent to 9.2 riyals.

Emaar Economic City (EMAAR) : The unit of Dubai-based developer Emaar Properties PJSC first-quarter loss narrowed to 13.6 million riyals from 53.5 million riyals in the year-ago period as costs declined. The shares rose 0.7 percent to 6.8 riyals.

Fawaz Abdulaziz Alhokair & Co. (ALHOKAIR) : The clothing retailer signed a memorandum of understanding with International Finance Corp. for 281 million riyals financing to expand in international markets. The shares rose 2.1 percent to 44.5 riyals.

Rabigh Refining & Petrochemical Co. (PETROR AB): The integrated oil and petrochemicals refining company said first- quarter profit rose to 698.5 million riyals from 271.5 million riyals in the year-ago period on refining margins. The shares advanced 1.9 percent to 24.25 riyals.

Saudi Electricity Co. (SECO) : The state-controlled power producer said it will pay a 2010 dividend of 0.70 riyals a share. The shares fell 0.8 percent to 12.85 riyals.

Saudi Fisheries (SFICO) Co: The fish processing company appointed Hassan al-Sahtot as the company’s new chief executive officer after Abdul Latif al-Mubarak resigned. The shares advanced 0.2 percent to 48 riyals.

Saudi Dairy & Foodstuff Co. (SADAFCO) : The Saudi Arabian food company said fourth-quarter profit declined to 32.7 million riyals from 118.2 million in the corresponding quarter of the previous fiscal year, which ends March 31. The shares were unchanged at 42.4 riyals.

To contact the reporters on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net; Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editors responsible for this story: Claudia Maedler at cmaedler@bloomberg.net Shaji Mathew at shajimathew@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.