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Abu Dhabi Islamic, Etisalat, Sahara, Samba: Gulf Equity Preview

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

Dubai’s DFM General Index advanced 0.4 percent, while Abu Dhabi’s gauge fell 0.4 percent and Qatar’s QE Index decreased 0.8 percent. Saudi Arabia’s Tadawul All Share Index was little changed at 6,216.67.

Abu Dhabi Islamic Bank PJSC (ADIB UH): The United Arab Emirates’ second-biggest shariah-compliant bank is seeking to raise as much as $5 billion from selling sukuk under a trust certificate program. The shares rose 0.4 percent to 2.46 dirhams.

Aabar Investments PJSC (AABAR UH): The company’s offer to delist its shares from the Abu Dhabi bourse will be discussed by a government panel today, the National reported, without citing anyone. The shares were unchanged at 1.43 dirhams.

Advanced Petrochemicals Co. (APPC AB): The Saudi Arabian chemicals producer posted an 89 percent increase in profit to 65.3 million riyals ($17 million) from the year-earlier period on higher product prices. The shares declined 1.5 percent to 20.25 riyals.

Emirates Telecom Corp. (ETISALAT UH): The United Arab Emirates biggest phone company was downgraded to “neutral” from “overweight” with a price estimate of 12 dirhams at HSBC Holdings Plc. The shares were unchanged at 10.4 dirhams.

National Agriculture Development Co. (NADEC AB): The Saudi Arabian producer of dairy products said it had a second-quarter profit of 4.7 million riyals after a loss of 16.8 million riyals the year earlier. The shares dropped 0.4 percent to 26.1 riyals.

National Bank of Kuwait SAK (NBK KK): The nation’s largest lender said second-quarter profit rose to 69 million dinars ($238 million) from 62.6 million dinars a year ago. The shares were unchanged at 1,160 fils.

Sahara Petrochemical Co. (SPC AB): The producer of propylene reported a profit of 100.8 million riyals in the second-quarter after a loss of 6 million riyals in the same period a year earlier. The shares gained 0.8 percent to 19.1 riyals.

Samba Financial Group (SAMBA AB): The second-largest bank in Saudi Arabia by market value said it would pay a first-half dividend of 0.90 riyals a share. The shares retreated 1.7 percent to 56.75 riyals.

Tabuk Cement Co. (TACCO AB): The Saudi Arabian cement maker said second-quarter profit increased 10 percent to 41.7 million riyals from the year-ago period. The shares lost 0.6 percent to 17.95 riyals.

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