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Gulf Finance, Sipchem, Waha: Persian 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) increased 0.4 percent and Abu Dhabi’s ADX General Index (ADSMI) rose 0.3 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) gained 0.5 percent.

Drake & Scull International (DSI) PJSC: The United Arab Emirates construction company said it won contracts valued at 155 million dirhams ($42 million) in Kuwait. The shares slipped 0.2 percent to 99.3 fils.

Gulf Finance House BSC (GFH BI): The Bahraini investment bank said India’s Wadhwa Group will invest more than $1 billion to develop the bank’s energy and technology centers near Mumbai. The shares dropped 2 percent to $0.49 when they last traded June 12.

National Bank of Abu Dhabi (NBAD UH): The U.A.E.s’ second- largest lender by assets made a partial repurchase of 13.9 million dirhams of outstanding 2018 subordinate convertible notes listed on the London Stock Exchange. The shares rose 1.3 percent to 11.4 dirhams.

Saudi International Petrochemical Co. (SIPCHEM) : The company known as Sipchem appointed Deutsche Securities and Riyad Capital as joint lead managers to sell Islamic bonds. The shares retreated 0.9 percent to 21.35 riyals.

Waha Capital PJSC (WAHA) : The leasing company based in Abu Dhabi obtained a $505 million term and revolving credit facility from 11 regional and international banks. The facility is for three years, the company said. The shares were unchanged at 70 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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