Persian Gulf Stocks: Al-Ahli Bank of Kuwait, Tamweel, Doha Bank

Dubai’s benchmark DFM General Index (DFMGI) rose 0.3 percent, the most in a week, to 1,525.83 at the 2 p.m. close in the emirate. Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced 0.4 percent at 1:25 p.m. in Riyadh. Qatar’s gauge gained 0.1 percent.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Al-Ahli Bank of Kuwait (ABK) increased 1.5 percent, the most since July 4, to 660 fils. The Kuwaiti lender said second- quarter profit rose 11 percent to 12.1 million dinars ($44 million).

Doha Bank QSC (DHBK) climbed the most since May 10, advancing 1.8 percent to 52 riyals. Qatar’s fourth-biggest bank by assets reported a 13 percent jump in second-quarter profit, beating analysts’ estimates.

Saudi Cable Co. (SCACO) rose the most since July 2, gaining 1.5 percent to 13.65 riyals. The cable and reel manufacturer posted a second-quarter profit of 22.6 million riyals ($6 million) after a loss of 26.5 million riyals a year earlier.

Tamweel PJSC (TAMWEEL) jumped 1.6 percent, the most in a week, to 89 fils. The home-finance company majority owned by Dubai Islamic Bank PJSC (DIB) said second-quarter profit surged to 27.7 million dirhams ($7.5 million) from 5.4 million dirhams as bad-loan provisions dropped. Dubai Islamic Bank rose 1 percent to 2.03 dihrams.

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

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.