ADCB, Drake & Scull, Jazeera Airways, NBAD: 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) advanced 0.1 percent. The ADX General Index (ADSMI) and Qatar’s QE Index (DSM) lost 0.1 percent. The Saudi Tadawul All Share Index (SASEIDX) decreased 0.4 percent.

Abu Dhabi Commercial Bank (ADCB UH): The United Arab Emirates’ third-biggest bank wants to sell its 25 percent stake in Malaysia’s RHB Capital Bhd. for about 10 ringgit a share, or at two times book value, the Star reported, citing people it didn’t identify. As many as five potential buyers have submitted bids for the stake, it said. The shares fell 1.1 percent to 2.84 dirhams.

Drake & Scull International (DSI) PJSC: The Dubai-based construction and engineering company won a 180 million-dirham ($49 million) contract for the complete mechanical, electrical and plumbing works for a government project in Abu Dhabi. The shares were unchanged at 1.04 dirhams.

Jazeera Airways (JAZEERA) KSC: The Kuwaiti low-cost airline reported a profit of 1.1 million dinars ($4 million) after a loss of 4.5 million dinars a year earlier. The shares were unchanged at 120 fils.

Kuwait Finance House (KFIN) : The country’s largest Islamic bank plans to expand to Oman through opening a branch or forming a partnership, Al-Qabas reported, citing unidentified people familiar with the matter. The shares were unchanged at 1,080 fils.

Mobile Telecommunications Co. (ZAIN KK): Kuwait’s biggest phone operator known as Zain may say first-quarter profit rose 42 percent to about 73 million dinars ($266 million), Al-Qabas reported, without saying where it got the information. The shares advanced 1.7 percent to 1,200 fils.

National Bank of Abu Dhabi PJSC (NBAD) : The U.A.E.’s second-biggest bank by assets doesn’t need extra funding and has no immediate repayment to make, said Mahmood Al Aradi, senior general manager of financial markets. The shares retreated 0.4 percent to 11.2 dirhams.

To contact the reporter on this story: Zahraa Alkhalisi in Dubai at zalkhalisi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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