Bahrain Islamic and Gulf Finance House: Gulf Equity Preview

June 2 (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 rose 0.9 percent to the highest level since May 22 and Abu Dhabi’s ADX General Index gained 1 percent. Saudi Arabia’s market is closed for the weekend.

Bahrain Islamic Bank BSC (BISB BI): The Bahraini Islamic lender had its credit ratings cut to junk at Moody’s Investors Service because of losses and after political unrest in the Persian Gulf nation. The shares jumped 1.9 percent to 0.106 dinar when they last traded May 31.

Gulf Finance House BSC (GFH BI): The Bahrain-based investment bank will resume trading after a capital increase and a so-called reverse stock split. The shares last traded on Oct. 12 and were unchanged at 50 cents.

Qatar International Islamic Bank (QIIK QD): The country’s third-largest Islamic bank by assets had a first-time ratings assignment of A3/Prime-2 at Moody’s. The shares advanced 0.8 percent to 46.6 riyals.

Editors:

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