DIC, Kuwait Insurance, Tabreed: 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 0.9 percent to 1,512.90. The Kuwait SE Price Index retreated 0.3 percent and Abu Dhabi’s measure slid 0.5 percent. Qatar’s QE Index rose 1.1 percent.

Ahli United Bank (AUB BI): The Bahraini lender posted a 22 percent increase in second-quarter profit from a year earlier to $70.2 million. The shares gained 1.5 percent to 68 cents.

Arab Banking Corp. (ABC BI): The Bahraini commercial and Islamic bank said second-quarter profit dropped 17 percent to $34 million. The shares closed unchanged at 45.5 cents when they last traded on July 27.

Dubai Investments PJSC (DIC UH): The owner of stakes in more than 40 companies reported a 32 percent decline in second-quarter profit to 196.3 million dirhams ($53 million) as investment income fell. The shares rose 0.6 percent to 83.9 fils.

First Gulf Bank PJSC (FGB UH): The United Arab Emirates’ lender owned by Abu Dhabi’s ruling family said second-quarter profit rose 2 percent, less than analysts expected. The shares were unchanged at 14.45 dirhams.

Kuwait Insurance Co. (KINS KK): The provider of life, fire, accident, marine and aviation insurance posted a 69 percent decline in second-quarter profit to 389,171 dinars. The shares were unchanged at 325 fils when they last traded on July 21.

National Central Cooling Co. (TABREED UH): The refrigeration company known as Tabreed will seek board approval to reduce its share capital. The shares gained 2.7 percent to 37.6 fils.

Salam International Investment Ltd. (SIIS QD): The Qatari company with assets in construction posted an 8.7 percent increase in first-half profit to 68.8 million riyals ($19 million). The shares advanced 1 percent to 9.95 riyals.

(Removes Al-Mazaya item after company reported different numbers in new statements.)
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