Bank Muscat, Drake & Scull, Qatar Islamic: Gulf Equity Preview
The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
The QE Index (DSM) increased 0.5 percent to 8,815.44 at the 1:10 p.m. close in Doha. Dubai’s DFM General Index (DFMGI) climbed 0.6 percent and Abu Dhabi’s ADX General Index (ADSMI) increased 1 percent. Saudi Arabia’s market is closed for the weekend.
Bank Muscat SAOG (BKMB OM): Oman’s biggest bank by assets said first-quarter profit rose to 27.8 million rials ($72 million) from 24.5 million rials a year earlier. The shares were unchanged at 0.78 rial.
Drake & Scull International (DSI) PJSC: The Dubai-based construction and engineering company acquired International Centre for Contracting Co. in Saudi Arabia for an enterprise value of 128 million riyals ($34 million). The shares retreated 0.9 percent to 1.08 dirhams.
Qatar Islamic Bank (QIBK) SAQ: The Persian Gulf country’s biggest Shariah-compliant lender reported a 7 percent increase in first-quarter profit to 321 million riyals ($88 million) as financing income rose. The shares gained 0.8 percent to 83.6 riyals.
Qatar Meat & Livestock Co. (QMLS) : The largest livestock trader in the Persian Gulf country said first-quarter net income more than tripled to 9.3 million riyals. The shares were unchanged at 22.21 riyals.
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