Emirates NBD, Gulf Finance, Kipco, Omantel and Shuaa: 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.
Al-Qurain Petrochemicals Co. (ALQURAIN KK): The Kuwait- based maker of plastics and chemicals reported a second-quarter loss of 1.6 million dinars ($5.6 million) after a profit of 588,949 dinars in the year-earlier period. The shares were unchanged at 196 fils.
Emirates NBD PJSC (EMIRATES UH): The United Arab Emirates’ biggest bank by assets said it raised 19 billion yen ($221 million) from the Middle East’s first issue of securities backed by auto loans. The shares were unchanged at 2.45 dirhams.
Gulf Finance House EC (GFH BI): The Bahrain-based investment bank reached an agreement with a group of banks led by West LB for a new $100 million Islamic loan. The shares were unchanged at 14 cents.
Ikarus Petroleum Industries KSCC (IKARUS KK): The Kuwaiti energy company said second-quarter net income fell to 1.2 million dinars from 3.4 million dinars in the year-earlier period. The shares rose 1.5 percent to 132 fils.
Kuwait National Airlines Co. (KNA KK): The holding company for Wataniya Airlines said its second-quarter loss widened 13 percent to 3.6 million dinars. The shares were unchanged at 99 fils.
Kuwait National Cinema Co. (KCIN KK): The only publicly traded cinema operator in the country said second-quarter profit rose 61 percent to 1.6 million dinars. The shares climbed 4.4 percent to 710 fils when they last traded on July 27.
Kuwait Projects Co. (KPROJ KK): The country’s biggest privately owned investment firm posted a 61 percent decline in second-quarter profit to 4.8 million dinars. The shares were unchanged at 360 fils.
Livestock Transport and Trading Co. (CATTL KK): The Kuwaiti company posted a second-quarter loss of 1 million dinars after a profit of 2.7 million dinars in the year-earlier period. The shares were unchanged at 325 fils.
Mabanee Co. (MABANEE KK): The Kuwaiti construction company said second-quarter profit fell 7 percent to 5.1 million dinars, compared with the year-earlier period. The shares were unchanged at 690 fils.
National Investments Co. (NINV KK): The Kuwaiti asset management company said second-quarter profit dropped 49 percent to 2.7 million dinars. The shares were unchanged at 350 fils.
Oman Telecommunications Co. (OTEL OM): The Persian Gulf country’s biggest telephone company said first half profit dropped 16 percent to 61 million rials as expenses increased. The shares fell 0.9 percent to 1.183 rial.
Oula Fuel Marketing Co. (OULAFUEL KK): The only non- government operator of gasoline stations in Kuwait said second- quarter profit dropped 33 percent to 671,605 dinars from the year-earlier period. The shares jumped 4.6 percent to 345 fils.
Qatar Navigation Co. (QNNS QD): The freight transportation company plans to build a logistics center, Deputy Chief Executive Officer Mohammad Ibrahim al-Sulaiti said. The shares slipped 0.4 percent to 78.9 riyals.
Renaissance Services Co. (RNSS OM): The Omani energy services company said first-half profit rose 2.6 percent to 11.7 million rials. The shares declined 0.9 percent to 0.78 rial.
Saudi Industrial Investment Group (SIIG AB): The investor in petrochemicals projects said 7-month profit rose 79 percent to 153.2 million riyals ($41 million) compared with the same period a year earlier. The shares declined 1.4 percent to 17.75 riyals.
Shuaa Capital PSC (SHUAA UH): The U.A.E’s biggest investment bank posted a second-quarter loss of 56.6 million dirhams ($15 million) after a profit of 91.7 million dirhams in the year-earlier period. The shares dropped 0.1 percent to 99 fils.