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Sharjah Islamic, Emirates NBD: Gulf Equity Preview

(Corrects Emirates NBD’s shares price)

July 24 (Bloomberg) -- The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

Saudi Arabia’s Tadawul All Share Index advanced 0.5 percent, while Dubai’s DFM General Index dropped 0.2 percent. Abu Dhabi’s ADX General Index gained 0.2 percent.

United Development Co. (UDCD QD): The Qatari investment company said first-half profit rose to 346.8 million riyals ($95 million) from 340.9 million riyals a year ago. The shares dropped 0.5 percent to 20.22 riyals.

Sharjah Islamic Bank (NBS UH): The Shariah-compliant lender based in Sharjah, the United Arab Emirates, said second-quarter net income advanced to 53.3 million dirhams ($14.5 million) from 51 million dirhams a year earlier. The shares were unchanged at 0.88 dirhams.

Emirates NBD PJSC (EMIRATES UH): The U.A.E.’s biggest bank by assets has been mandated along with Standard Chartered Bank Plc, and Wells Fargo & Co. by Bank UralSib to arrange a one-year $100 million syndicated term-loan facility. The shares were unchanged at 4.20 dirhams.

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

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

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