Alinma Bank, Al Khaliji, Saudi Fransi, Al-Rajhi Bank: Gulf Equity Preview
The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
Dubai’s DFM General Index gained 1.2 percent to the highest since June 28. Qatar’s QE Index increased 0.4 percent and Saudi Arabia’s Tadawul All Share Index climbed 2.4 percent, the most in a month. Kuwait’s market is closed for a holiday.
Al-Anwar Ceramic Tiles Co. (AACT OM): The maker of wall and floor tiles was raised to “buy” from “accumulate” and assigned a share-price estimate of 0.37 rial at Gulf Baader Capital Markets. The shares retreated 0.3 percent to 0.302 rial.
Alinma Bank (ALINMA AB): The Saudi Arabian Islamic bank said second-quarter profit declined to 3 million riyals from 68 million riyals in the year-earlier period due to higher costs and a decline in return on investments. The shares gained 1.8 percent to 11.2 riyals.
Al-Rajhi Bank (RJHI AB): Saudi Arabia’s largest bank by market value said second-quarter profit increased 0.5 percent to 1.78 billion riyals ($474.6 million). The shares rose 2 percent to 76.5 riyals.
Banque Saudi Fransi (BSFR AB): The Saudi lender part-owned by Credit Agricole SA said second-quarter profit gained 9.4 percent to 757 million riyals from the year earlier. The shares advanced 0.7 percent to 43.1 riyals.