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Deyaar Development, ADCB, First Investment: Gulf Equity Preview

Aug. 17 (Bloomberg) -- 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 gained 0.6 percent, the most in almost two weeks, to 1,473.71. Qatar’s QE Index advanced 0.3 percent and the Kuwait SE Price Index slipped 0.2 percent. Abu Dhabi’s measure climbed 0.3 percent.

Abu Dhabi Commercial Bank PJSC (ADCB UH): The United Arab Emirates’ third-largest lender by assets plans to raise 500 million Malaysian ringgit ($157 million) from the sale of five-year notes. Standard Chartered Plc and RHB Investment Bank Bhd. will manage the sale. The shares fell 1.2 percent to 1.66 dirhams.

Deyaar Development PJSC (DEYAAR UH): The property company part-owned by Dubai Islamic Bank PJSC may abandon a project it acquired for 372 million dirhams ($101 million). The shares advanced 0.7 percent to 30.5 fils.

First Investment Co. (ALOLA KK): The Kuwaiti Islamic finance company said second-quarter loss narrowed to 952,954 dinars ($3.3 million) from 2.3 million dinars a year earlier. The shares retreated 4 percent to 95 fils when they last traded on Aug. 15.

National Industries Group Holding (NIND KK): The largest industrial investment company in Kuwait transferred stakes it holds in Saudi Arabia’s Saudi International Petrochemical Co. (SIPCHEM AB) and National Industrialization Co. (NIC AB) to two of its units, Asharq al-Awsat reported. National Industries retreated 4.8 percent to 300 fils. Saudi International was unchanged at 22.95 riyals. National Industrialization declined 1.1 percent to 26.9 riyals.

To contact the reporters on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

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

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