Al Jouf, Bank Al Jazira, Doha Bank, Sorouh: 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 0.3 percent to 1,652.76, the highest level since Jan. 10. Kuwait’s gauge advanced 0.5 percent, while Saudi Arabia’s Tadawul All Share Index (SASEIDX) rose less than 0.1 percent.
Al Jouf Cement Co. (JOUF AB): The Saudi Arabian producer of building materials said its first-quarter profit increased to 28.2 million riyals ($7.5 million) from 5.2 million riyals a year ago. The shares gained 5.7 percent to 13.05 riyals.
Astra Industries Group (ASTRA AB): The Saudi holding company said first-quarter profit advanced to 62 million riyals compared with 57.9 million riyals in the same period a year earlier. The shares fell 0.3 percent to 35.5 riyals.
Aseer (ATTMCO) Company for Trading, Tourism, Agriculture, Real Estate & Contracting (ATTMCO AB): The Saudi company said first- quarter profit increased to 25 million riyals ($6.7 million) from 20 million riyals a year earlier. The shares dropped 0.4 percent to 13.9 riyals.
Bank Al Jazira (BJAZ AB): The Saudi Arabian lender said first-quarter profit increased to 62 million riyals from 13 million riyals a year ago. The shares climbed 2.3 percent to 20 riyals.
Doha Bank QSC (DHBK) : Qatar’s fourth-biggest bank by assets said first-quarter profit rose 15 percent to 363 million riyals ($99.7 million). The shares fell 0.6 percent to 51.5 riyals.
Jabal Omar Development Co. (JOMAR) : The real-estate developer based in Saudi Arabia’s holy city of Mecca signed an agreement to raise 1.35 billion riyals in bridge financing from five banks. The loan is part of a 5 billion-riyal borrowing plan over the coming few months. The shares declined 0.7 percent to 15.25 riyals.
Saudi Advanced Industries Co. (SAIC) : The Riyadh-based company that manufactures airplane parts said its unit Alsalam Aircraft Co., in which it owns 10 percent, signed a 545 million- riyal contract with the country’s air force for the maintenance of C-130 aircraft. The shares were unchanged at 15.8 riyals.
Saudi Basic Industries Corp. (SABIC) : The world’s biggest petrochemicals maker said first-quarter profit surged 42 percent to 7.69 billion riyals from a year ago. The shares retreated 0.7 percent to 106.25 riyals.
Sorouh Real Estate Co. (SOROUH) : Abu Dhabi’s Urban Planning Council signed housing contracts valued at 13.5 billion dirhams ($3.7 billion) including a 2.89 billion-dirham deal with Sorouh to build 7,500 houses for United Arab Emirates’ nationals. The shares were unchanged at 1.45 dirhams.
Saudi Electricity Co. (SECO) : The state-controlled power producer reported a first-quarter loss of 774 million riyals compared with a loss of 782 million riyals a year ago. The shares dropped 0.4 percent to 13 riyals.
To contact the reporters on this story: Alaa Shahine in Dubai at firstname.lastname@example.org
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