Persian Gulf Stocks: Al Jouf, Saudi Kayan, Samba, Saudi Chemical

Dubai’s DFM General Index (DFMGI) decreased 1 percent at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) fell 0.4 percent and Saudi Arabia’s Tadawul All Share Index (SASEIDX) tumbled 1.2 percent.

The following stocks rose or fell in the Persian Gulf region. Symbols are in parentheses.

Al Jouf Cement Co. (JOUF AB) dropped to the lowest since May 23, falling 2.2 percent to 15.45 riyals. The Saudi Arabian producer of building materials will increase the price of cement in Saudi Arabia to 240 riyals ($64) a metric ton from 200 riyals to make up for an expected loss in income from exports.

Bank of Sharjah (BOS) decreased a second day, losing 2.6 percent to 1.89 dirhams. The lender in the United Arab Emirates hired a group of banks to arrange a $100 million loan for “general corporate purposes.”

Saudi Kayan Petrochemical Co. (KAYAN) retreated the most since March 15, falling 1.9 percent to 17.70 riyals. The unit of Saudi Basic Industries Corp. (SABIC) said second-quarter loss widened to 16 million riyals from 1.8 million riyals a year earlier. Saudi Basic shares dropped 1.2 percent to 103.25 riyals.

Samba Financial Group (SAMBA) decreased to the lowest in more than four months, sliding 1.8 percent to 48.6 riyals. Saudi Arabia’s second-largest lender by market value said second- quarter profit fell to 1.1 billion riyals from 1.22 billion riyals in the year-earlier period.

Saudi Chemical Co. (SCCO) tumbled the most since March 1, decreasing 5.5 percent to 44.4 riyals. The company said second-quarter profit fell 12 percent to 76 million riyals from a year earlier as costs and wages rose.

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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