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Doha Bank, First Gulf Bank, Sahara: 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.

Dubai’s DFM General Index dropped 0.7 percent and the ADX General Index lost 0.4 percent. Qatar’s QE Index retreated 0.7 percent.

Al-Ahli Bank of Kuwait (ABK KK): The Kuwaiti lender said second-quarter profit rose 11 percent to 12.1 million dinars ($44 million). The shares were unchanged at 650 fils.

Abdullah Al Othaim Markets (AOTHAIM AB): The Saudi Arabian operator of supermarkets posted a 31 percent increase in second-quarter profit to 41.1 million riyals ($11 million). The shares advanced 2.7 percent to 95.75 riyals.

Doha Bank QSC (DHBK QD): Qatar’s fourth-biggest bank by assets reported a 13 percent jump in second-quarter profit, beating analysts’ estimates, as the lender gained from interest income and cut provisions for bad assets. The shares fell 1.5 percent to 51.1 riyals.

First Gulf Bank PJSC (FGB UH): The United Arab Emirates lender controlled by Abu Dhabi’s ruling family will meet fixed-income investors from July 21 as part of its plan to issue Islamic bonds under a $3.5 billion sukuk program. The shares dropped 1.1 percent to 17.35 dirhams.

Qatar Gas Transport Co. (QGTS QD): The liquefied natural gas transporter known as Nakilat said first-half profit rose 16 percent to 381.2 million riyals ($105 million). The shares declined 0.6 percent to 17.96 riyals.

Sahara Petrochemical Co. (SPC AB): The Saudi Arabian company said second-quarter profit more than doubled to 209 million riyals. The shares gained 1.2 percent to 25 riyals.

Saudi Cable Co. (SCACO AB): The cables and reels’ manufacturer posted a second-quarter profit of 22.6 million riyals after a loss of 26.5 million riyals a year earlier. The shares rose 0.8 percent to 13.45 riyals.

Tamweel PJSC (TAMWEEL UH): The home-finance company majority owned by Dubai Islamic Bank PJSC said second-quarter profit surged to 27.7 million dirhams ($7.5 million) from 5.4 million dirhams as bad-loan provisions dropped. The shares added 0.9 percent to 87.6 fils.

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