Zamil Industrial, Saudi Ceramics, Taiba: 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.
Dubai’s DFM General Index (DFMGI) climbed 1.4 percent, while the ADX General Index (ADSMI) advanced 0.7 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) was little changed and Qatar’s QE Index (DSM) lost 0.4 percent.
Arriyadh Development Co. (ADCO) : The Saudi Arabian property developer said its first-quarter net rose 25 percent to 28.6 million riyals ($7.6 million). The shares were unchanged at 16 riyals.
National Gypsum (NGCO) Co: The Saudi Arabian maker of building materials posted a 35 percent drop in first-quarter earnings to 11.2 million riyals. The shares were unchanged at 31 riyals.
Saudi Cable Co. (SCACO) : The cables and reels maker won a 188 million riyals contract to supply high-voltage cables to Qatar General Electricity & Water Corp. The contract’s effect will be reflected in the first quarter of 2012. The shares rose 0.7 percent to 14.15 riyals.
Saudi Ceramics Co. (CSERCO AB): The Saudi Arabian maker of bathroom fixtures and electric water heaters said first quarter profit rose 3 percent to 60 million riyals. The shares rose 0.4 percent to 140 riyals.
Taiba Holding Co. (TIRECO) : The Saudi Arabian property developer said first-quarter net income almost tripled to 38.9 million riyals. The shares advanced 0.6 percent to 17.35 riyals.
Tourism Enterprise Co. (TECO AB): The manager of Saudi Arabia’s Palm Beach Resort said its first-quarter net income rose to 83,447 riyals from 39,225 riyals. The shares dropped 0.4 percent to 25 riyals.
Zamil Industrial Investment Co. (ZIIC) : The maker of building materials in Saudi Arabia said first-quarter net income fell 33 percent to 36.8 million riyals. The shares dropped 1 percent to 30.9 riyals.
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