Al Rajhi, Samba, Sipchem, Amiantit: Saudi Equity Preview

The following stocks may rise or fall in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index (SASEIDX) fell 0.2 percent to 6,105.04 on Oct. 12.

Arab National Bank (ARNB) : The Saudi Arabian lender posted a 50 percent increase in third-quarter profit to 519.2 million riyals ($138.4 million) from a year earlier. The shares rose 0.4 percent to 27.50 riyals.

Alinma Bank (ALINMA) : The Saudi Arabia-based Islamic lender said third-quarter profit rose six-fold to 122 million riyals from a year earlier. The shares lost 0.5 percent to 9.40 riyals.

Al Rajhi Bank (RJHI) : Saudi Arabia’s largest publicly traded lender by market value said third-quarter profit rose 18 percent to 1.94 billion riyals, beating analyst estimates. Al Rajhi was rated “neutral” in new coverage with a share price estimate of 78 riyals at JPMorgan Chase & Co. The shares advanced 0.4 percent to 68.50 riyals.

Bank Al-Jazira (BJAZ) : The Saudi Arabian lender’s third- quarter profit tripled to 66 million riyals from 22 million riyals a year earlier. The shares fell 0.9 percent to 16.75 riyals.

Eastern Province Cement Co. (EACCO AB): The Saudi maker of the building material posted a 17 percent increase in third- quarter profit to 75 million riyals from a year earlier as sales increased. The shares were unchanged at 46.9 riyals.

Riyad Bank (RIBL) : Saudi Arabia’s third-largest publicly traded lender by market value was rated “neutral” in new coverage with a share price estimate of 23 riyals at JPMorgan Chase & Co. The shares rose 0.2 percent to 23.70 riyals.

Banque Saudi Fransi (BSFR) : The Saudi lender part-owned by Credit Agricole SA said third-quarter profit rose 22 percent to 760 million riyals. The shares decreased 1 percent to 38.60 riyals.

Samba Financial Group (SAMBA) : The kingdom’s second- largest lender by market value was rated “overweight” in new coverage with a share price estimate of 62 riyals at JPMorgan Chase & Co. The shares fell 1.3 percent to 44.20 riyals.

Saudi Arabian Amiantit Co. (SAAC) : The building materials manufacturer posted a 3 percent increase in third- quarter profit to 43.6 million riyals from a year earlier. The shares rose 0.7 percent to 14.70 riyals.

Saudi British Bank (SABB) : The lender 40 percent owned by HSBC Holdings Plc was picked as the “favored” stock by JPMorgan Chase & Co. as it started off coverage on the Saudi banking industry. The Riyadh-based bank reported a 50 percent jump in third-quarter profit to 630 million riyals. The shares fell 0.5 percent to 40 riyals.

Saudi Ceramics Co. (SCERCO AB): The Saudi Arabian maker of bathroom fixtures and electric water heaters posted a 17 percent increase in third-quarter profit to 54.2 million riyals as sales and output rose. The shares rose 0.4 percent to 132 riyals.

Saudi Hollandi Bank (AAAL) : The Saudi Arabian lender posted a third-quarter profit of 299.4 million riyals, about four times the profit of the year-ago period of 85.3 million riyals. It beat the 239.6 million-riyal mean estimates of five analysts compiled by Bloomberg. The shares slumped 0.8 percent to 25.90 riyals.

Saudi International Petrochemical Co. (SIPCHEM) : The company also known as Sipchem said third-quarter profit more than doubled to 208.4 million riyals compared with 84.1 million riyals a year earlier as output increased. The shares decreased 1.3 percent to 18.35 riyals.

Saudi Investment Bank (SIBC) : The lender posted a 3 percent decline in third-quarter profit to 144 million riyals from the year-earlier period. The shares dropped 0.6 percent to 16.85 riyals.

Saudi Real Estate Co. (SRECO) : The property developer said third-quarter profit rose 2.4 percent to 33.8 million riyals from a year earlier. The shares dropped 0.9 percent to 23 riyals.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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