Persian Gulf Stocks: Alinma Bank, Bank Albilad, Yanbu Cement
Stock Chart for Alinma Bank (ALINMA)
Dubai’s DFM General Index (DFMGI) gained 0.6 percent to the highest since June 21 at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) climbed 0.3 percent, while Saudi Arabia’s Tadawul All Share Index (SASEIDX) declined 0.7 percent.
The following stocks rose or fell in the Persian Gulf region. Symbols are in parentheses.
Alinma Bank (ALINMA) rose the most in more than three months, gaining 1.5 percent to 10.10 riyals. The Saudi Arabia- based Islamic lender posted a second-quarter profit of 102 million riyals ($27 million) compared with 3 million riyals a year ago.
Bank Albilad (ALBI) increased the most two weeks, advancing 1.1 percent to 18.85 riyals. Saudi Arabia’s smallest lender said second-quarter profit more than doubled to 81.7 million riyals from the year-earlier period.
Saudi Arabian Fertilizer Co. (SAFCO (SAFCO) AB) fell to the lowest since June 20, declining 1.9 percent to 185 riyals. Second- quarter earnings at the Saudi Basic Industries Corp. (SABIC) unit retreated 13 percent to 790 million riyals, missing analysts’ estimates.
Yanbu Cement (YNCCO) Co gained the most in almost a month, rising 1.4 percent to 56.25 riyals. The Saudi producer of the building material said second-quarter profit rose 32.7 percent to 150 million riyals from a year earlier.
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