Banque Saudi Fransi, Jabal Omar, Al Jouf: 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) rose 0.8 percent to 6,238.87 on Dec. 14.

Al Jouf Agricultural Development Co. (JADCO) : The board of the Saudi Arabian producer of olive oil and dairy products proposed paying a dividend of 2 riyals a share for 2011. The shares added 3.45 percent to 33 riyals.

Banque Saudi Fransi (BSFR) : The long- and short-term credit ratings of the Saudi lender part-owned by Credit Agricole SA were affirmed at A/A-1 with a stable outlook by Standard & Poor’s. The shares rose 2 percent to 41.80 riyals.

Jabal Omar Development Co. (JOMAR) : The Saudi property company said fourth-quarter loss will narrow 16 percent to 9.5 million riyals ($2.5 million) from 11.3 million riyals a year earlier. The shares advanced 1.7 percent to 11.95 riyals.

Saudi Cable Co. (SCACO) : The manufacturer of cables and reels said it will pay the second part of the 2010 dividend, or 0.375 riyals a share, starting tomorrow. The shares gained 2.7 percent to 13.45 riyals.

Saudi Paper Manufacturing Co. (SPM) : The Saudi Arabian maker of tissue paper said it dropped plans to acquire a 51 percent stake in Cellulose De Maroc from CDG Maroc. The shares gained1.4 percent to 36.40 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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