Saudi British Bank, Saudi Chemical, Safco, Tabuk: Saudi Equity Preview
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 advanced 0.1 percent to 6,890.74.
Al-Ahsa Development Co. (AADC AB): The Saudi Arabian investment firm reported first-quarter profit of 6.3 million riyals ($1.68 million) compared with a loss of 6.3 million riyals in the year-earlier period, the company said in a statement posted on the Web site of the Saudi bourse. The shares gained 0.4 percent to 11.65 riyals.
Al Jouf Agricultural Development Co. (JADCO AB): The Saudi Arabian producer of agricultural and animal products said first- quarter profit fell to 7.1 million riyals from 13.8 million riyals a year earlier, according to a statement to the Saudi exchange. The shares lost 1.2 percent to 34.4 riyals.
Alinma Bank (ALINMA AB): The Saudi Arabian Islamic bank reported a first quarter loss of 75 million riyals, from a profit a year ago. The shares declined 0.4 percent to 12.6 riyals.
National Agriculture Development Co. (NADEC AB): The Saudi producer of dairy products said first-quarter profit was 3.8 million riyals after a loss of 4.4 million riyals a year earlier, according to a statement to the local exchange. The shares were unchanged t 30.9 riyals.
Sahara Petrochemical Co. (SPC AB): The Saudi Arabian chemical maker’s board of directors is considering whether the company should seek a loan or increase its capital to fund three new projects. The shares jumped 3 percent to 24.4 riyals.
Saudi Arabian Fertilizer Co. (SAFCO AB): The unit of Saudi Basic Industries Corp. was downgraded to “underperform” from “neutral” at BofA Merrill Lynch Global Research, which cut its price estimate to 120 riyals from 123 riyals. The shares dropped 0.5 percent to 141 riyals.
Saudi British Bank (SABB AB): The lender 40 percent owned by HSBC Holdings Plc appointed David Dew as managing director, replacing Richard Groves. The shares were unchanged at 48 riyals.
Saudi Chemical Co. (SCCO AB): The Saudi distributor of pharmaceuticals said it agreed to distribute Henkel AG products in parts of Saudi Arabia under a three-year accord. Separately, Saudi Chemical said first-quarter net income rose 11 percent to 74 million riyals. The shares advanced 1.8 percent to 44.6 riyals.
Saudi Hollandi Bank (AAAL AB): The bank partly owned by ABN Amro Holding NV said first-quarter profit declined 19 percent to 230 million riyals on lower commission and operational income. The shares rose 0.3 percent to 33.4 riyals.
Tabuk Cement (TACCO AB): The Saudi Arabian cement maker said first-quarter profit rose to 34 million riyals from 33.5 million riyals, according to a statement to the local bourse. The shares lost 0.5 percent to 18.8 riyals.
United International Transportation Co. (BUDGET AB): The Saudi car-rental company’s first-quarter profit climbed 13 percent to 22.5 million riyals on increased sales of used cars, it said in a statement to the Saudi bourse. The shares declined 0.4 percent to 63.75 riyals.
To contact the reporter on this story: Dana El Baltaji in Dubai at firstname.lastname@example.org