Blackberry Posts Loss as Revenue Misses Estimates
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.
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