Khaleeji, Saudi Telecom, Spimaco: 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.

The Dubai Financial Market General Index declined 0.1 percent to 1,510.38. Saudi’s Tadawul All Share Index rose 0.5 percent and Kuwait’s benchmark index gained less than 0.1 percent. Abu Dhabi’s measure slid 0.4 percent and Bahrain’s gauge slipped less than 0.1 percent.

Commercial Bank of Qatar (CBQK QD): The country’s second-biggest lender by assets expects its second-half earnings to be “broadly similar” to the first-half, Chief Executive Officer Andrew Stevens said. The shares gained 0.1 percent to 70.4 riyals.

Khaleeji Commercial Bank (KHCB BI): The Islamic bank said Abdullateef Moosa Al Abdulrazag resigned from the board. The shares were unchanged at 0.076 dinar when they last traded on July 27.

Kuwait & Gulf Link Transport Co. (KGL KK): The cargo shipper reported second-quarter profit of 1.1 million dinars ($3.8 million) after a loss of 370,000 dinars a year earlier. The shares gained 4.7 percent to 178 fils.

Ras Al Khaimah Cement Co. (RAKCC UH): The United Arab Emirates-based maker of building supplies posted a second-quarter loss of 4.3 million dirhams ($1.2 million) after a profit of 21.7 million dirhams a year earlier. The shares advanced 1.4 percent to 73 fils.

Renaissance Services SAOG (RNSS OM): The Omani energy services company got 38.5 million rials ($100 million) of financing to expand its offshore support vessel operations. The shares rose 1.4 percent to 0.789 rial.

Saudi Pharmaceutical Industries & Medical Appliance Corp. (SPIMACO AB): The company also known as Spimaco said talks to buy an Egyptian company didn’t succeed. The shares retreated 0.3 percent to 29.2 riyals.

Saudi Telecom Co. (STC AB): The kingdom’s largest telephone company wasn’t informed of a request to stop the services of Research In Motion Ltd.’s BlackBerry smartphone, Al Arabiya television reported. The shares fell 0.3 percent to 38.1 riyals.

(Corrects RAK Cement’s year-earlier profit.)
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