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BBK, Boubyan, Qatar International, Zamil: Gulf Equity Preview

Jan. 31 (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 tumbled 4.3 percent, the most since May 25, to 1,543.02. Abu Dhabi’s ADX General Index slid 3.7 percent, while Saudi Arabia’s Tadawul All Share Index advanced 2.5 percent.

BBK (BBK BI): The company previously known as Bank of Bahrain & Kuwait said net income rose 12 percent to 39.1 million dinars ($104 million) in 2010 from the year-earlier period. The shares dropped 4.3 percent to 0.45 dinar.

Boubyan Bank KSC (BOUBYAN KK): The Kuwaiti Islamic lender reported a full-year profit of 6.1 million dinars ($22 million) after a loss of 51.7 million dinars in 2009. The shares were unchanged at 630 fils.

Emirates Telecommunications Corp. (ETISALAT UH): The biggest phone company in the United Arab Emirates said its Etisalat Misr unit resumed services in Egypt. The shares declined 2.9 percent to 10.15 dirhams.

Dubai Investments PJSC (DIC UH): The owner of stakes in more than 40 companies said full-year profit fell 17 percent to 805 million dirhams ($219 million) from 972.5 million dirhams a year earlier. The shares lost 4.5 percent to 78.3 fils.

Qatar International Islamic Bank (QIIK QD): The Persian Gulf country’s second-biggest bank complying with Islamic law reported a 9.3 percent rise in profit in 2010 to 559 million riyals ($153 million). The shares fell 2.3 percent to 51.9 riyals.

Zamil Industrial Investment Co. (ZIIC AB): The Saudi maker of building materials said its Egypt operations, which represent 7.6 percent of overall revenue, haven’t been affected by the unrest in the North African country. The shares rose 2.7 percent to 34.2 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 at cmaedler@bloomberg.net

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