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NBAD, National Bank of Kuwait, Nawras, STC: Gulf Equity Preview

Feb. 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 rose 0.6 percent and Abu Dhabi’s ADX General Index gained 0.5 percent. Saudi Arabia’s Tadawul All Share Index increased 0.2 percent.

National Bank of Abu Dhabi PJSC (NBAD UH): The United Arab Emirates’ second-biggest bank by assets expects operating profit to rise 10 percent this year even as souring loans worsen, Chief Executive Officer Michael Tomalin said. The bank reported a 71 percent jump in fourth-quarter profit, missing analyst estimates. The shares advanced 0.4 percent to 11.5 dirhams when they last traded on Jan. 31.

National Bank of Kuwait SAK (NBK KK): Kuwait’s biggest lender expects profit growth of as much as 15 percent this year and plans to expand into Syria, Chief Executive Officer Ibrahim Dabdoub said. The bank reported a 14 percent increase in full-year profit, missing analyst estimates. The shares dropped 2.8 percent to 1,400 fils.

Omani Qatari Telecommunications Co SAOG (NWRS OM): Nawras, the Omani mobile-phone company controlled by Qatar Telecom QSC, appointed Nasser Marafih as its vice chairman after Abdullah Zaid Rashid Al-Talib resigned. The shares retreated 1.1 percent to 0.793 rial.

Saudi Telecom Co. (STC AB): The Arab world’s largest phone company formed a joint venture with Aegis Group Plc for customer care operations. The shares gained 0.5 percent to 39.1 riyals.

Zamil Industrial Investment Co. (ZIIC AB): The manufacturer of building materials said its unit received a 46 million-riyal ($12 million) contract from Saudi Aramco Mobil Refinery Co. for a clean fuel project. The shares fell 0.6 percent to 33.5 riyals.

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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