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Qatar Islamic Bank, Batelco, NBAD: Persian Gulf Equity Preview

July 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 rose 0.3 percent and Qatar’s QE Index gained 0.1 percent. Bahrain’s gauge dropped 0.6 percent and Oman’s index retreated 0.3 percent.

Bahrain Telecommunications Co. (BATELCO BI): Bahrain’s largest phone company, known as Batelco, said first-half profit declined 17 percent to 38.8 million dinars ($103 million). The shares declined 0.5 percent to 0.43 dinar.

Bank Dhofar SAOG (BKDB OM): Oman’s second-largest bank by market value posted a first-half loss of 4.56 million rials ($12 million), after setting aside money to comply with a court order. Profit was 17.7 million rials a year earlier. The shares were unchanged at 0.567 rial when they last traded July 17.

Commercial Bank of Dubai (CBD UH): The Dubai-based lender said second-quarter profit advanced 2 percent to 260 million dirhams ($70.8 million). The shares gained 0.3 percent to 3.01 dirhams.

National Bank of Abu Dhabi (NBAD UH): The United Arab Emirates’ second-biggest lender by assets said second-quarter profit rose 2.5 percent to 1.03 billion dirhams, beating analysts’ estimates. The shares were unchanged at 11.05 dirhams.

Qatar Islamic Bank SAQ (QIBK QD): The Persian Gulf country’s second-biggest Shariah-compliant lender said second-quarter profit jumped 27 percent, topping analysts’ estimates. The shares gained 0.3 percent to 78.6 riyals.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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