Aldar, Gulf General, Union Insurance: 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.
Aldar Properties PJSC (ALDAR UH): Abu Dhabi’s largest developer had its corporate-credit rating lowered two levels by Standard & Poor’s on funding concern and “challenging” market conditions. The shares gained 2.7 percent to 2.32 dirhams.
Commercial Bank of Qatar (CBQK QD): The Persian Gulf country’s second-biggest lender by assets is selling 275 million Swiss francs ($277 million) in fixed-rate bonds. The shares were unchanged at 86 riyals.
Gulf General Investment Co. (GGICO UH): The United Arab Emirates-based investment company posted a third-quarter profit of 53.5 million dirhams ($15 million) compared with 22.2 million dirhams in the year-ago period. The shares slid 1 percent to 49 fils.
Union Insurance Co. (UNION UH): The U.A.E. insurer said third-quarter profit rose to 7.4 million dirhams from 7.2 million dirhams in the year-earlier period. The shares fell 0.5 percent to 2.23 dirhams when they last traded on Oct. 12.
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