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Aldar, Commercial Bank of Qatar, Riyad Bank: Gulf Equity Preview

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Nov. 2 (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 Dubai Financial Market General Index increased 1 percent to 1,781.92, the highest since April. Saudi Arabia’s Tadawul All Share Index advanced 0.2 percent, while Abu Dhabi’s measure retreated 0.5 percent.

Abu Dhabi Ship Building Co. (ADSB UH): The United Arab Emirates maker of military and commercial ships said third-quarter profit almost doubled to 49 million dirhams ($13 million). The shares slipped 0.3 percent to 3.84 dirhams when they last traded on Oct. 26.

Aldar Properties PJSC (ALDAR UH): John Bullough, the chief executive officer of Abu Dhabi’s biggest real-estate developer, left the company. A replacement will be announced after a board meeting on Nov. 8. The shares fell 0.8 percent to 2.59 dirhams.

Al-Hassan GI Shaker Co. (SHAKER AB): The Saudi Arabian cooling systems and home appliances manufacturer said it got a 15.9 million-riyal ($4.2 million) contract from the government. The shares retreated 0.9 percent to 58 riyals.

Commercial Bank of Qatar (CBQK QD): The Persian Gulf country’s second-biggest lender by assets was cut to “neutral” from “overweight” and assigned a price estimate of 90 riyals at HSBC Holdings Plc. The shares rose 0.1 percent to 83 riyals.

Riyad Bank (RIBL AB): Saudi Arabia’s third-largest lender by market value posted a 53 percent increase in provisions for bad loans in the third quarter. The shares retreated 0.4 percent to 26.4 riyals.

Saudi British Bank (SABB AB): The lender 40 percent owned by HSBC said it may sell dollar bonds after meeting investors from Nov. 4. The shares were unchanged at 42 riyals.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

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

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