Doha Bank, First Gulf Bank, Nakilat: 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) dropped 0.7 percent and the ADX General Index (ADSMI) lost 0.4 percent. Qatar’s QE Index (DSM) retreated 0.7 percent.

Doha Bank QSC (DHBK) : Qatar’s fourth-biggest bank by assets reported a 13 percent jump in second-quarter profit, beating analysts’ estimates, as the lender gained from interest income and cut provisions for bad assets. The shares fell 1.5 percent to 51.1 riyals.

First Gulf Bank PJSC (FGB) : The United Arab Emirates lender controlled by Abu Dhabi’s ruling family will meet fixed- income investors from July 21 as part of its plan to issue Islamic bonds under a $3.5 billion sukuk program. The shares dropped 1.1 percent to 17.35 dirhams.

Qatar Gas Transport Co. (QGTS QD): The liquefied natural gas transporter known as Nakilat said first-half profit rose 16 percent to 381.2 million riyals ($105 million). The shares declined 0.6 percent to 17.96 riyals.

Tamweel PJSC (TAMWEEL) : The home-finance company majority owned by Dubai Islamic Bank PJSC said second-quarter profit surged to 27.7 million dirhams ($7.5 million) from 5.4 million dirhams as bad-loan provisions dropped. The shares added 0.9 percent to 87.6 fils.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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