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Arabian Cement, Eastern Province, Sabic: Gulf Equity Preview

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Nov. 29 (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 lost 1.4 percent to the lowest since Sept. 16. Abu Dhabi’s measure slipped 0.3 percent while Saudi Arabia’s gauge increased 0.2 percent.

Arabian Cement Co. (ARCCO AB): The Saudi Arabian maker of the building material was raised to “buy” from “hold” and assigned a price estimate of 39.80 riyals at Global Investment House KSCC. The shares increased 0.3 percent to 36 riyals.

Eastern Province Cement Co. (EACCO AB): The Saudi manufacturer of cement and clinker was cut to “reduce” from “hold” and assigned a price estimate of 37 riyals at Global Investment House. The shares advanced 1.4 percent to 42.5 riyals.

Saudi Cement Co. (SACCO AB): The second-largest producer of building materials in the kingdom by assets was cut to “hold” from “buy” and assigned a price estimate of 47 riyals at Global Investment House. The shares were unchanged at 43.6 riyals.

Saudi Basic Industries Corp. (SABIC AB): The world’s biggest petrochemical maker plans to ask the World Trade Organization to apply pressure on India to lift an anti-dumping duty it imposed on Saudi polypropylene, an official said. The shares gained 0.5 percent to 99.5 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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