May 12 (Bloomberg) -- The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
The Dubai Financial Market General Index tumbled 2 percent to 1,706.58, the lowest in two months. Abu Dhabi’s measure lost 0.2 percent.
Albaraka Banking Group (BARKA BI): The largest publicly traded Islamic lender in Bahrain said first-quarter profit rose 16 percent to $27.7 million as provisions fell. The shares were unchanged at $1.60 when they last traded on May 10.
Al-Mal Investment Co. (ALMAL KK): The Kuwaiti investment firm posted a first-quarter loss that widened to 1.4 million dinars ($4.8 million) from 961,358 dinars a year earlier, according to a company statement to the local bourse. The shares were unchanged at 102 fils.
Burgan Bank SAK (BURG KK): The Kuwaiti lender said first-quarter profit dropped 83 percent to 1.87 million dinars from 11 million dinars a year earlier, without giving a reason. The shares gained 1.4 percent to 355 fils.
Commercial Bank of Kuwait SAK (CBK KK): The Gulf Arab country’s second-biggest bank by market value posted a loss of 1.4 million dinars in the first quarter after a profit of 3.14 million dinars a year ago. The shares were unchanged at 910 fils.
Emirates Integrated Telecommunications Co. (DU UH): The company known as Du needs a better debt-to-equity ratio for credit rating, Chief Executive Officer Osman Sultan said on a conference call. The company plans to invest 2 billion dirhams in 2011 and is “seeing momentum on all fronts of business,” Sultan said. The shares dropped 1.2 percent to 2.52 dirhams.
First Gulf Bank (FGB UH): The United Arab Emirates lender owned by Abu Dhabi’s ruling family was raised to “buy” from “accumulate” at Naeem Holding, with a price estimate of 23.10 dirhams a share. The shares decreased 1.4 percent to 18.1 dirhams.
Gulf Bank KSC (GBK KK): The Kuwaiti lender’s individual rating was raised two levels to D/E from F by Fitch Ratings. Gulf Bank’s long-term issuer default rating was affirmed at A+ with a stable outlook. The shares were unchanged at 385 fils.
Mabanee Co. SAKC (MABANEE KK): The Kuwaiti construction company said first-quarter profit rose 9.4 percent to 5.25 million dinars. The shares increased 3.1 percent to 670 fils.
National Industries Co. (NICBM KK): The unit of Kuwait-based National Industries Group Holding said first-quarter net income was 2.2 million dinars after a loss of 6.8 million dinars a year earlier. The shares declined 2.6 percent to 380 fils when they last traded on May 10.
Shuaa Capital PSC (SHUAA UH): The biggest investment bank in the Emirates said it will raise more than $50 million by selling its entire stake in Kuwait’s Alkout Industrial Projects Co. The shares were unchanged at 1.40 dirhams.
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