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Agility, Arabtec, Gulf Finance, Sahara: Gulf Equity Preview

The following stocks may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

The Saudi Tadawul All Share Index gained 2.7 percent and Dubai’s DFM General Index rose 0.1 percent. The ADX General Index lost 0.2 percent to 2,519.92, the lowest level since Dec. 10 and the Kuwait Stock Exchange Index slid 0.4 percent. Qatar’s measure rose 0.8 percent.

Agility (AGLTY KK): The Middle East’s largest storage and logistics company isn’t in talks to sell a stake in Iraq’s Korek Telecom, said Chairman Tarek Sultan.

Separately, the company’s shareholders approved the sale of bonds and to pay a dividend of 40 fils a share this year. The shares advanced 2.3 percent to 455 fils.

Arabtec Holding PJSC (ARTC UH): The United Arab Emirates’ biggest builder expects cash flow to improve now that the government is helping Dubai-based developer Nakheel PJSC pay its bills to contractors, Chief Financial Officer Ziad Makhzoumi said in Beirut on June 10. The shares retreated 0.5 percent to 1.93 dirhams.

Drake & Scull International PJSC (DSI UH): The board of the Dubai-based mechanical, electrical and plumbing company appointed Khalaf Sultan al-Dhaeri as board member. The shares retreated 1 percent to 82.7 fils.

Gulf Finance House EC (GFH BI): The Bahrain-based investment bank aims to reach an agreement with creditors by early July on renegotiated terms for a $100 million loan, Chief Executive Officer Ted Pretty said. The shares were unchanged at 14 cents.

Kuwait Projects Co. Holding (KPROJ KK): The Kuwaiti company had its issuer rating cut to Baa2 from Baa1 at Moody’s Investors Service. The outlook remains negative. The shares were unchanged at 345 fils.

Mobile Telecommunications Co. (ZAIN KK): The company known as Zain said it will repay a $4 billion loan to foreign banks and companies after selling its African assets to Bharti Airtel Ltd. for $10.7 billion, Asharq Al-Awsat reported, citing a company statement. The shares were unchanged at 1,140 fils.

Sahara Petrochemical Co. (SPC AB): The Saudi Arabian company is seeking approval from market regulators for a rights offer that will finance $420 million in expansion projects. The shares rose 3.9 percent to 21.1 riyals.

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