The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
Alinma Bank (ALINMA) : The Saudi Arabia-based Islamic lender posted a second-quarter profit of 102 million riyals compared with 3 million riyals a year ago. The shares rose 0.5 percent to 9.95 riyals.
Arab Banking Corp. (ABC BI): The Bahraini bank’s deposit ratings were lowered by one level to Ba1/not-prime from Baa3/prime-3 at Moody’s Investors Service. The shares were unchanged at 0.46 dinars.
Bank Albilad (ALBI) : Saudi Arabia’s smallest lender said second-quarter profit more than doubled to 81.7 million riyals from in the year-earlier period. The shares dropped 0.3 percent to 18.65 riyals.
Emirates Telecommunications Corp. (Etisalat UH): Etisalat DB Telecom India Pvt Ltd., a joint venture between the United Arab Emirates biggest phone company known as Etisalat and Dynamix Balwas Group, has been fined 70 billion rupees ($1.5 billion) for foreign exchange violations related to a probe into the sale of wireless permits. The shares of Etisalat dropped 0.5 percent to 10.90 dirhams.
Qassim Cement (QACCO) Co: The Saudi producer of the building material posted a 6.6 percent rise in second-quarter profit to 144.65 million riyals. The shares were unchanged at 66.5 riyals.
Saudi Investment Bank (SIBC) : The Saudi lender said second-quarter profit soared almost 10 fold to 208 million riyals compared with 22 million in the year-ago period as costs fell. The shares dropped 1.8 percent to 18.65 riyals.
Yanbu Cement (YNCCO) : A Saudi producer of the building material said its second-quarter profit according to preliminary estimates rose 32.7 percent to 150 million riyals from a year earlier. The shares were unchanged at 55.5 riyals.
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