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ADCB, Gulf Navigation, Qatar Electricity: Gulf Equity Preview

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June 1 (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 advanced 1.6 percent, the most since April 27, and Abu Dhabi’s ADX General Index rose 0.7 percent.

Abu Dhabi Commercial Bank PJSC (ADCB UH): The United Arab Emirates’ third-largest bank by assets may sell its 25 percent stake in Malaysia’s RHB Capital Bhd. to Abu Dhabi Investment Council, the Star reported, citing an unidentified person. The shares rose 1.4 percent to 2.91 dirhams.

Al Khaliji (KCBK QD): The Qatari lender’s board will meet to discuss merging with International Bank of Qatar. The shares increased 0.6 percent to 18 riyals.

DP World Ltd. (DPW DU): The Dubai World-controlled company will start trading on the London Stock Exchange today as it seeks to attract investors after low trading volumes in its home market. The shares rose 0.4 percent to $13.45 in Dubai.

Gulf Navigation Holding (GULFNAV UH): Dubai’s only publicly traded oil-tanker owner was cut to “sell” from “neutral” at EFG-Hermes Holding SAE with a share-price estimate of 34 fils. The stock increased 2.2 percent to 38 fils.

Qatar Electricity & Water Co. (QEWS QD): The third-largest publicly traded utility in the Middle East by revenue has joined with Marubeni Corp. to bid for the construction of the Sur power plant in Oman. The shares rallied 1.7 percent to 148 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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