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Al Rajhi Bank, First Gulf, Samba: Persian 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.

Al-Ahsa Development Co. (AADC AB): The Saudi Arabian investment company reported a 2.9 million riyal ($773,292) profit in the second quarter after a 2.8 million riyal loss a year earlier. The shares decreased 0.9 percent to 10.75 riyals.

Al Jouf Cement Co. (JOUF AB): The Saudi Arabian producer of building materials will increase the price of cement in Saudi Arabia to 240 riyals a metric ton, from 200 riyals, to make up for an expected loss in income from exports. The shares dropped 2.8 percent to 15.8 riyals.

Almarai Co. (ALMARAI AB): Georges Schorderet, chief financial officer of Saudi Arabia’s largest food producer by market value, said revenue will grow about 15 percent this year.

Separately, Schorderet will step down from his position in the coming weeks while keeping senior operational role in the company. The shares lost 2.4 percent to 92.25 riyals.

First Gulf Bank PJSC (FGB UH): The United Arab Emirates lender controlled by Abu Dhabi’s ruling family set up a $3.5 billion Islamic trust certificate program. The shares rose 0.8 percent to 18 dirhams.

National Bank of Bahrain (NBB BI): The Bahraini bank said second-quarter profit rose to 10.46 million dinars ($27.7 million) from 10.04 million dinars a year earlier. The shares were unchanged at 0.59 dinar.

Al Rajhi Bank (RJHI AB): The biggest publicly traded lender by market value in the Middle East reported a 3.6 percent rise in second-quarter profit to 1.84 billion riyals, meeting analysts’ estimates. The shares climbed 0.3 percent to 75.5 riyals.

Riyad Bank (RIBL AB): Saudi Arabia’s third-largest publicly traded lender by market value said second-quarter profit rose to 836 million riyals from 766 million riyals a year ago. The shares increased 0.4 percent to 24.55 riyals.

Samba Financial Group (SAMBA AB): Saudi Arabia’s second-largest lender by market value said second-quarter profit fell to 1.1 billion riyals from 1.22 billion riyals in the year-earlier period. The shares declined 1.5 percent to 49.5 riyals.

Saudi Chemical Co. (SCCO AB): The company said second-quarter profit fell 12 percent to 76 million riyals from a year earlier as costs and wages rose. The shares were unchanged at 47 riyals.

Saudi Hollandi Bank (AAAL AB): The Saudi Arabian lender said second-quarter profit rose to 263.3 million riyals from 250.5 million riyals a year earlier. The shares were unchanged at 29.4 riyals.

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