The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and price changes are from the last close.
Aramex PJSC (ARMX UH): The Middle East’s largest courier company wants to grow in Africa and has set aside as much as $70 million for expansion and acquisitions there over the next two years, Chief Executive Officer Fadi Ghandour said. The shares increased 1.1 percent to 1.86 dirhams.
DP World Ltd. (DPW) : The company that operates ports from Europe to Asia was cut to "neutral’’ from “buy” and assigned a price estimate of $15 a share at EFG-Hermes Holding SAE. The shares advanced 1.5 percent to $13.9.
Mohammad Al-Mojil Group (MMG) : The provider of services to the construction industry acquired Gulf Elite General Contracting for 46 million riyals ($12 million). The shares jumped 3.3 percent to 25.10 riyals.
National Central Cooling Co. (TABREED UH): The United Arab Emirates company known as Tabreed said it completed the tender offer for its 2008 sukuk. Separately, the company announced its new shareholding after a trust certificates conversion. The shares retreated 2.1 percent to 1.41 dirhams.
Qatar National Bank SAQ (QNBK) : The Persian Gulf country’s biggest bank by assets started operations of its brokerage unit in the country. The shares rose 0.1 percent to 145 riyals.
Raysut Cement Co. (RCCI) : Oman’s biggest cement-maker by market value was raised to “neutral” from “sell” at EFG- Hermes. The shares dropped 0.6 percent to 1.051 Omani rials.
Sabb Takaful (SABBT) : The Saudi Arabian Shariah- compliant life insurer appointed Adrian Flowers as chief executive officer. The shares rose 0.5 percent to 19.05 riyals.
Sahara Petrochemical Co. (SPC) and Saudi Arabian Mining Co. (MAADEN AB): The Jubail-based manufacturer of chemicals and the Riyadh-based metals producer awarded an engineering, procurement and construction contract to Daelim Industrial Co. for a caustic soda and ethylene dichloride project in Jubail, Saudi Arabia. Sahara’s shares rose 2.3 percent to 24.05 riyals and Maaden’s shares gained 0.7 percent to 27.40 riyals.
Saudi Hotels & Resort Areas Co. (SHARCO) : The operator of hotels and housing compounds in the kingdom bought a plot of land in Riyadh for 50.5 million riyals. The shares rose 0.3 percent to 29.40 riyals.