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Arabian Pipes, Halwani, Raysut Cement: Gulf Equity Preview

June 16 (Bloomberg) -- The following stocks may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

The DFM General Index slid 1.3 percent, the most since June 6. Kuwait’s benchmark fell 0.4 percent and Oman’s MSM30 Index gained 0.1 percent. Bahrain’s gauge dropped 0.8 percent to the lowest since at least 2004, when Bloomberg started tracking the index. Saudi Arabia’s Tadawul All Share Index decreased 0.3 percent.

Arabian Pipes Co. (APCO AB): The Saudi maker of steel pipes agreed to buy the 50 percent stake of a British partner in a Saudi-based joint venture. The value of the deal will be agreed at a later stage, it said. The shares advanced 1 percent to 29.2 riyals.

Halwani Bros. Co. (HB AB): The Saudi food processing company said it signed a 165.2 million-riyal ($44 million) loan arrangement with the Saudi Industrial Development Fund to help finance building a plant in Jeddah, according to a statement to the Saudi bourse. The shares rose 1 percent to 39.7 riyals.

Raysut Cement Co. SAOG (RCCI OM): The biggest Omani cement-maker by market value received a final government reimbursement payment of 5 million rials ($13 million), it said in a statement to the Muscat bourse. The shares lost 1.8 percent to 1.453 rials.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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