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Air Arabia, Al Khaliji, Kuwait Insurance: Gulf Equity Preview

May 5 (Bloomberg) -- 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 dropped 0.7 percent, while the ADX General Index gained 0.4 percent. Qatar’s QE Index slipped 0.2 percent.

Air Arabia PJSC (AIRARABI UH): The Middle East’s biggest low-cost airline said first-quarter profit fell to 42.7 million dirhams ($11.6 million) from 49.6 million dirhams a year earlier. The shares increased 0.4 percent to 74.2 fils.

Al Khaliji (KCBK QD): The Qatari lender expects a “very limited impact” from rules to limit loans on profitability, Chief Financial Officer Christiaan De Beer said. The shares gained less than 0.1 percent to 18 riyals.

Kuwait Cement Co. (KCEM KK): The cement maker said first-quarter profit was 4.9 million dinars ($17.8 million) compared with a profit of 5 million dinars a year earlier. The shares closed unchanged at 610 fils.

Kuwait Insurance Co. (KINS KK): The provider of life, accident, marine and aviation insurances posted a 2.3 million-dinar profit in the first quarter compared with 2.5 million dinars in the year-earlier period. The shares were unchanged at 305 fils when they last traded May 1.

To contact the reporter on this story: Zahraa Alkhalisi in Dubai at zalkhalisi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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