Oct. 21 (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 gained 0.6 percent to 1,755.36, the highest in a week. Abu Dhabi’s ADX General Index slipped 0.8 percent. Saudi Arabia’s market is closed for the weekend.
Abu Dhabi Commercial Bank PJSC (ADCB UH): The United Arab Emirates’ third-biggest bank by assets aims to diversify lending after being hurt by Dubai World’s $24.9 billion debt restructuring, Chief Executive Officer Ala’a Eraiqat said. The shares fell 1.2 percent to 2.42 dirhams.
Ahli United Bank (AUB BI): The Bahraini lender posted a 63 percent increase in third-quarter profit to $65.2 million. The shares were unchanged at 76.5 cents.
Bahrain Telecommunications Co. (BATELCO BI): The nation’s largest phone company posted a 24 percent decline in third-quarter profit to 19.3 million dinars ($51.2 million) on domestic competition and losses from an Indian joint venture. The shares were unchanged at 0.53 dinar.
Drake & Scull International PJSC (DSI UH): The engineering contractor for the real-estate industry won a contract valued at 400 million dirhams ($109 million) for works on a presidential palace project in Abu Dhabi, Al Khaleej reported, citing people it didn’t identify. The shares increased 0.2 percent to 98.1 fils.
Gulf Bank KSC (GBK KK): The Kuwaiti lender said net income for the first nine months of the year was 10.4 million dinars ($37 million) after a loss of 7 million dinars for the same period a year ago. The shares retreated 1.9 percent to 520 fils.
Qatar Telecom QSC (QTEL QD): The telecommunications company posted an 8.3 percent decline in third-quarter profit to 651.9 million riyals ($179 million) amid increased competition in its home market. The shares dropped 1.1 percent to 177 riyals in Qatar trading.
Union National Bank PJSC (UNB UH): The company in which the governments of Abu Dhabi and Dubai hold stakes was cut to “accumulate” from “buy” and assigned a price estimate of 3.8 dirhams a share at National Bank of Kuwait. The shares advanced 2 percent to 3.57 dirhams.
To contact the reporter on this story: Zahra Hankir in Dubai at email@example.com
To contact the editor responsible for this story: Claudia Maedler in Dubai at firstname.lastname@example.org