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Etihad Etisalat, Dar Al Arkan, Tihama: Saudi Equity Preview

July 23 (Bloomberg) -- The following stocks may rise or fall in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index rose 0.8 percent to 6,489.50 on July 20.

Dar Al Arkan Real Estate Development Co. (ALARKAN AB): Saudi Arabia’s biggest property company by assets said second-quarter profit dropped 32 percent to 297.8 million riyals on lower sales. The shares rose 2 percent to 7.50 riyals.

Etihad Etisalat Co. (EEC AB): The Saudi phone company known as Mobily said its board approved a first-half dividend of 1.25 riyals a share. The company also renewed its management agreement with Emirates Telecommunications Corp. in the United Arab Emirates. The shares dropped 0.5 percent to 54.25 riyals.

Makkah Construction & Development Co. (MCDCO AB): The Saudi Arabian developer of property around the grand mosque in Mecca posted a 14 percent increase in first-quarter profit to 48 million riyals. The shares rose 0.3 percent to 33.40 riyals.

Mohammad Al-Mojil Group (MMG AB): The provider of services to the construction industry said second-quarter profit almost tripled to 31.7 million riyals from 11.8 million riyals. The shares rose 1.4 percent to 21.60 riyals.

National Agriculture Marketing Co. (THIMAR AB): The company known as Thimar reported a net loss of 3.16 million riyals in the second quarter, compared with a profit of 0.15 million riyals a year earlier. The shares were unchanged at 18.55 riyals.

Saudi Chemical Co. (SCCO AB): The Saudi Arabian maker of bathroom fixtures and electric water heaters posted a 12 percent decline in second-quarter profit to 76 million riyals from the year-ago period. The shares rose 0.7 percent to 44.40 riyals.

Tihama Advertising & Public Relations Co. (TAPRCO AB): The publisher of the pan-Arab al-Hayat newspaper posted a net loss of 2.6 million riyals in the three months ended June 30, compared with a profit of 6.8 million riyals a year earlier. The shares rose 0.8 percent to 39.70 riyals.

To contact the reporters on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net.

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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