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National Gas, Zain Saudi Arabia: Persian Gulf Equity Preview

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Aug. 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.

Qatar’s QE Index snapped a three-day drop, gaining 0.4 percent to 8,124.12. Abu Dhabi’s ADX General Index rose 0.3 percent, while Dubai’s DFM General Index fell 0.4 percent.

National Gas Co. SAOG (NGCI OM): The Omani company that bottles liquefied petroleum gas agreed to divest its stake in National Gulf Cryo LLC by transferring the shares to Kuwait’s Gulf Cryo Holding KCSC. The shares closed unchanged at 0.5 rials when they last traded Aug. 21.

Savola (SAVOLA AB): The Saudi Arabian food producer was raised to “overweight” from “neutral” at HSBC Holdings Plc with a share-price estimate of 32 riyals. The stock advanced 0.4 percent to 25.8 riyals.

Zain Saudi Arabia (ZAINKSA AB): The unit of Kuwait’s Mobile Telecommunications Co. selected Alcatel-Lucent for a contract to upgrade its wireless service, according to AMEinfo. The shares fell 0.8 percent to 6 riyals.

To contact the reporter 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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