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Damas International and Saudi Chemical: Gulf Equity Preview

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Dec. 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.

Qatar’s QE Index dropped 0.9 percent, the most since Dec. 20, to 8,645.65. Abu Dhabi’s benchmark stock index advanced 0.3 percent and Saudi Arabia’s Tadawul All Share Index rose 0.5 percent.

Damas International Ltd. (DAMAS DU): The Dubai-based jewelry maker and retailer said its lenders agreed to extend the standstill period for its banking facilities to Jan. 31. The shares increased 1.6 percent to 13 cents.

Saudi Chemical Co. (SCCO AB): The distributor of pharmaceuticals said it won a case and was awarded 68.4 million riyals ($18 million), according to a company statement to the Saudi bourse. The outcome won’t have a financial impact on earnings this year. The shares gained 0.7 percent to 41.8 riyals.

To contact the reporter on this story: Dana El Baltaji in Dubai delbaltaji@bloomberg.net

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

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