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Ezdan, First Gulf, Qatar Cinema: Persian Gulf Equity Preview

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June 21 (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 lost 1.7 percent and Abu Dhabi’s ADX General Index decreased 0.7 percent. Qatar’s QE Index retreated 1.4 percent, the most since May 23.

(For Middle East Daybook NI GULFDAYBK BN <GO>)

Ezdan Real Estate Co. QSC (ERES QD): Sheikh Thani bin Abdullah Al Thani, a member of the Qatari ruling family and chairman of the developer, donated 605 million shares valued at 14 billion riyals ($3.8 billion) to the poor. The shares were unchanged at 23.1 riyals.

First Gulf Bank PJSC (FGB UH): The board of the United Arab Emirates lender controlled by Abu Dhabi’s ruling family will meet to discuss changing the limit of foreign ownership in its shares. The shares were unchanged at 18 riyals.

Mobile Telecommunications Co. (ZAIN KK): Kuwait’s biggest mobile telephone operator was raised to “hold” from “sell” with a price estimate of 1,000 fils at Global Investment House KSCC. The shares were unchanged at 1,040 fils.

Qatar Cinema and Film Distribution Co. (QCFS QD): The film importer and movie theater manager agreed with Qatar Media on an acquisition in a deal valued at almost 2 billion riyals. The shares fell 2.4 percent to 40 riyals.

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

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