Abu Dhabi Commercial, Almarai, Ma’aden: Gulf Equity Preview

The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

Dubai’s DFM General Index slipped 0.7 percent to 1,537.68 at the 2 p.m. close in the emirate, the lowest level since March 23. Abu Dhabi’s measure dropped 0.4 percent and Saudi Arabia’s Tadawul All Share Index retreated 0.9 percent.

Abu Dhabi Commercial Bank PJSC (ADCB UH): The United Arab Emirates’ third-biggest bank by assets appointed Goldman Sachs Group Inc. and Bank of America Corp.’s Merrill Lynch & Co. to advise on whether to sell its 25 percent stake in RHB Capital Bhd, Chief Executive Officer Ala’a Eraiqat said. The shares were unchanged at 2.6 dirhams.

Almarai Co. (ALMARAI AB): First-quarter earnings at Saudi Arabia’s largest food producer by market value were affected by unrest in the Middle East and the company expects 2011 to be a challenging year, Chief Financial Officer Georges Schorderet said. The shares retreated 1.1 percent to 93.5 riyals.

National Leasing (NLCS QD): The Qatari investment company reported an increase in first-quarter profit to 42.4 million riyals ($11.3 million) from 41.8 million riyals the year earlier. The shares were unchanged at 40 riyals.

Qatar Telecom QSC (QTEL QD): The Persian Gulf country’s largest company by revenue submitted a final bid for a third mobile-phone licence in Syria. The shares advanced 3.1 percent to 144 riyals.

Rabigh Refining and Petrochemicals Co. (PETROR AB): The joint venture between state-owned Saudi Aramco and Sumitomo Chemical Co. of Japan will start two months of maintenance work at its facilities starting April 21. The shares dropped 2.8 percent to 24.15 riyals.

Ras Al Khaima Properties PJSC (RAKPROP UH): The developer that built Ras Al Khaimah’s first manmade islands said it will hand over the RAK Towers in Abu Dhabi soon. The shares jumped 2.6 percent to 39 fils.

Saudi Arabian Mining Co. (MAADEN AB): The state-controlled metals producer known as Ma’aden started production of caustic calcined magnesia. The shares declined 1.4 percent to 24.55 riyals.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE